By Kiku Steinfeld
Chicago, March 17 – Citigroup Global Markets Holdings Inc. priced $5.17 million of autocallable contingent coupon equity-linked securities due March 11, 2021 linked to the SPDR S&P 500 exchange-traded fund trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 7.25% if the fund closes at or above the barrier level, 78% of the initial price, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly valuation date other than the final one.
If the fund finishes at or above the barrier level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying fund: | SPDR S&P 500 ETF trust
|
| Amount: | $5,168,000
|
| Maturity: | March 11, 2021
|
| Coupon: | 7.25% per year, payable quarterly if fund closes at or above barrier level on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless shares finish below barrier price, in which case number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, cash equivalent
|
| Call: | At par plus contingent coupon if fund closes at or above initial share price on any quarterly valuation date other final one
|
| Initial level: | $297.46
|
| Barrier level: | $232.019, 78% of initial share price
|
| Equity ratio: | 3.36180
|
| Pricing date: | March 6
|
| Settlement date: | March 11
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17324XWK2
|
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