By Kiku Steinfeld
Chicago, July 2 – Citigroup Global Markets Holdings Inc. priced $5.85 million of autocallable contingent coupon equity-linked securities due July 1, 2022 linked to the common stock of Amazon.com, Inc., 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% if the stock closes at or above its coupon barrier price, 80% of its initial share price, on any quarterly valuation date, in which case any previously unpaid coupons will also be paid.
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 autocall date.
If the notes are not called and the stock finishes at or above its final barrier price, 80% of its initial share price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the losses of the stock, payable either in shares or cash at the issuer’s option.
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 stock: | Amazon.com, Inc.
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| Amount: | $5,845,000
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| Maturity: | July 1, 2022
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| Coupon: | 7% annualized rate, payable quarterly plus any previously unpaid coupons if stock closes at or above coupon barrier price on valuation date for that period
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| Price: | Par of $5000
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| Payout at maturity: | Par if stock closes at or above final barrier price; otherwise, full exposure to losses of the stock, payable either in shares or cash at the issuer’s option
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| Call: | Automatically at par if stock closes at or above initial level on any quarterly valuation date
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| Initial share price: | $3,443.89
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| Coupon barrier price: | $2,755.112, 80% of initial share prices
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| Final barrier price: | $2,755.112, 80% of initial share prices
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| Equity ratio: | 1.45185
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| Pricing date: | June 28
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| Settlement date: | July 1
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328NTL2
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