By Sarah Lizee
Olympia, Wash., Aug. 17 – Citigroup Global Markets Holdings Inc. priced $1.01 million of autocallable contingent coupon equity-linked securities due Aug. 12, 2024 linked to the least performing of the common stocks of Bristol-Myers Squibb Co., Gilead Sciences, Inc. and Pfizer Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 8% per year if the least-performing stock closes at or above its coupon barrier value, 55% 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 least-performing stock closes at or above its initial price on any quarterly autocall date after one year.
The payout at maturity will be par unless the least-performing stock finishes below its final barrier value, 55% of its initial share price, in which case investors will be exposed to the decline of the least performing stock.
The notes are 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 stocks: | Bristol-Myers Squibb Co., Gilead Sciences, Inc. and Pfizer Inc.
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| Amount: | $1,011,000
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| Maturity: | Aug. 12, 2024
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| Coupon: | 8% per year, payable each quarter if least-performing stock closes at or above coupon barrier value on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless least-performing stock finishes below final barrier value, in which case investors will be exposed to the decline of the least performing stock
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| Call: | Automatically at par if least-performing stock closes at or above initial share price on any quarterly valuation date after one year
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| Initial share prices: | $59.69 for Bristol, $69.00 for Gilead, $38.45 for Pfizer
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| Coupon/final barriers: | $32.83 for Bristol, $37.95 for Gilead, $21.148 for Pfizer, or 55% of initial share prices
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| Pricing date: | Aug. 5
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| Settlement date: | Aug. 12
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17328WH27
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