By William Gullotti
Buffalo, N.Y., July 28 – Citigroup Global Markets Holdings Inc. priced $3.98 million of autocallable contingent coupon equity-linked securities due July 27, 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 annualized rate of 7% if the stock closes at or above the coupon barrier price, 80% of the initial price, on the valuation date for that period. Coupon payments will include any previously unpaid coupons.
The notes will be automatically called at par plus the contingent coupon if the stock close at or above the initial share price on any quarterly valuation date.
If the notes are not called and the final share price is greater than or equal to the 80% final barrier price, the payout at maturity will be par plus the final coupon. Otherwise, investors will receive a number of shares equal to $5,000 divided by the stock’s initial share price or the cash equivalent at the issuer’s discretion.
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: | Amazon.com, Inc.
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| Amount: | $3,975,000
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| Maturity: | July 27, 2022
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| Coupon: | 7% annually, payable quarterly, if stock closes at or above coupon barrier price on valuation date for that period; coupon payments will include any and all previously unpaid coupons
|
| Price: | Par of $5000
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| Payout at maturity: | If notes are not called and final share price is greater than or equal to final barrier price, par plus final coupon; otherwise, investors will receive 1.37437 shares or the cash equivalent at the issuer’s discretion
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any quarterly valuation date
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| Initial share price: | $3,638.03
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| Coupon barrier price: | $2,910.424; 80% of initial level
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| Final barrier price: | $2,910.424; 80% of initial level
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| Pricing date: | July 22
|
| Settlement date: | July 27
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328NRV2
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