By Kiku Steinfeld
Chicago, June 16 – Citigroup Global Markets Holdings Inc. priced $650,000 of autocallable contingent coupon equity-linked securities due June 23, 2021 linked to the common stock of Lam Research Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10.6% per year if the stock closes at or above its coupon barrier value, 75% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if the stock closes at or above its initial share price on any quarterly valuation date.
If the final share price is greater than or equal to the 75% barrier level, the payout will be par. Otherwise, investors will receive a fixed number of Lam Research shares equal to its equity ratio or, if the issuer prefers, the cash value of those shares.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stock: | Lam Research Corp.
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| Amount: | $650,000
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| Maturity: | June 23, 2021
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| Coupon: | 10.6% per year, payable each quarter if stock closes at or above coupon barrier value on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless final share price is less than barrier level, in which case a fixed number of Lam Research shares equal to its equity ratio or, if the issuer prefers, cash value of those shares
|
| Call: | Automatically at par plus coupon if stock closes at or above initial share price on any quarterly valuation date
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| Initial share price: | $271.46
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| Coupon barrier: | $203.595, 75% of initial share price
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| Barrier value: | $203.595, 75% of initial share price
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| Equity ratio: | 4.91171
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| Pricing date: | June 4
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| Settlement date: | June 9
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17324XZP8
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