By Wendy Van Sickle
Columbus, Ohio, March 5 – Citigroup Global Markets Holdings Inc. priced $3.58 million of autocallable contingent coupon equity linked securities due Feb. 24, 2022 linked to the least performing of three common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underliers are McDonald’s Corp. and ConocoPhillips.
Contingent coupons are payable quarterly at an annual rate of 20.4% if each stock closes above its coupon barrier, 80% of its initial level, on the related observation date, plus any previously unpaid coupon.
The notes will be called at par plus the coupon if the shares of the least performing stock close at or above their initial price on any quarterly trigger observation date after six months.
The payout at maturity will be par plus the coupon unless any of the stocks finishes below its 80% knock-in level, in which case investors will be fully exposed to the losses of the worst performing underlying.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity linked securities
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| Underlying stocks: | McDonald’s Corp., ConocoPhillips
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| Amount: | $3,575,000
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| Maturity: | Feb. 24, 2022
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| Coupon: | 20.4% per year, payable quarterly if each stock closes above coupon barrier on observation date plus any previously unpaid coupon
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any stock finishes below knock-in price, in which case full exposure to losses of worst performing underlying
|
| Call: | At par if all shares close at or above initial share price on any quarterly trigger observation date after six months
|
| Initial prices: | $215.43 for McDonald’s, $47.69 for ConocoPhillips
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| Coupon barriers: | $172.344 for McDonald’s, $38.152 for ConocoPhillips; 80% of initial levels
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| Knock-in levels: | $172.344 for McDonald’s, $38.152 for ConocoPhillips; 80% of initial levels
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| Pricing date: | Feb. 18
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| Settlement date: | Feb. 23
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328NEQ7
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