By Wendy Van Sickle
Columbus, Ohio, Feb. 26 – Citigroup Global Markets Holdings Inc. priced $966,000 of 30% autocallable equity-linked securities due Feb. 16, 2022 tied to the common stocks of Penn National Gaming, Inc. and Overstock.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Interest is payable monthly.
The notes will be automatically redeemed at par if both stocks close at or above their initial prices on any monthly autocall date after three months.
The payout at maturity will be par unless any stock finishes below its initial price and ever closes below its knock in level, 50% of its initial price, in which case investors will receive a fixed number of shares of the worst performer equal to its equity ratio divided by the initial 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.
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| Issue: | Autocallable equity-linked securities
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| Underlying stocks: | Penn National Gaming, Inc. and Overstock.com, Inc.
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| Amount: | $966,000
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| Maturity: | Feb. 16, 2022
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| Coupon: | 30% per year, payable monthly
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| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below its initial price and ever closes below its knock in level, 50% of its initial price, in which case full exposure to losses of worst performer, payable in either shares or cash
|
| Call: | At par if each stocks closes at or above initial price on any monthly autocall date after three months
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| Initial prices: | $112.59 for Penn National and $107.73 for Overstock.com
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| Downside thresholds: | $56.295 for Penn National and $53.865 for Overstock.com, 50% of initial prices
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| Equity ratios: | 8.88178 for Penn National and 9.28247 for Overstock.com
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| Pricing date: | Feb. 11
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| Settlement date: | Feb. 17
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.875%
|
| Cusip: | 17328NFP8
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