By Sarah Lizee
Olympia, Wash., March 12 – Citigroup Global Markets Holdings Inc. priced $390,000 phoenix autocallable securities due March 17, 2021 linked to Caterpillar Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the stock closes at or above the coupon barrier level, 75.15% of the initial level, on a quarterly observation date, the notes will pay a contingent coupon for that quarter at an annualized rate of 10%, plus any previously unpaid contingent coupons.
The notes will be called at par plus any previously unpaid contingent coupons if the shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par plus the final coupon and any previously unpaid coupons unless the stock finishes below the 75.15% final barrier level, in which case investors will be fully exposed to the share price decline.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Phoenix autocallable securities
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| Underlying stock: | Caterpillar Inc.
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| Amount: | $390,000
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| Maturity: | March 17, 2021
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| Coupon: | 10% annualized, plus any previously unpaid coupons, if index closes at or above barrier level on quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon and previously unpaid coupons if index finishes at or above final barrier level; otherwise, exposure share price decline
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| Call: | At par plus final contingent coupon and any previously unpaid coupons if index closes at or above initial level on a quarterly observation date
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| Initial share price: | $124.24
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| Barrier/final barrier price: | $93.366, 75.15% of initial price
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| Pricing date: | Feb. 28
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| Settlement date: | March 4
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328VFU9
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