By Taylor Fox
New York, Sept. 16 – Citigroup Global Markets Holdings Inc priced $1 million of autocallable phoenix securities due March 16, 2022 linked to the common stock of Apple 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 14.9% if the stock closes at or above its 80% coupon barrier on the related quarterly observation date. Previously unpaid coupons will also be paid
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on any quarterly interim valuation date.
The payout at maturity will be par plus any coupon unless the stock finishes below 80% of its initial level, in which case investors will lose 1% for each 1% decline of the stock from its initial level.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable phoenix securities
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| Underlying stock: | Apple Inc.
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| Amount: | $1 million
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| Maturity: | March 16, 2022
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| Coupon: | 14.9% annualized, payable each quarter if stock closes at or above coupon barrier on determination date for that quarter; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | Par plus the coupon unless the stock finishes below barrier level, in which case investors will lose 1% for each 1% decline of the stock from its initial level
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| Call: | At par plus contingent coupon if stock closes at or above initial level on any quarterly interim valuation date
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| Initial share price: | $125.35
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| Coupon barrier level: | $100.28, 80% of initial level
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| Barrier level: | $100.28, 80% of initial level
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| Pricing date: | Feb. 25
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| Settlement date: | March 2
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328YUJ1
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