By Wendy Van Sickle
Columbus, Ohio, March 4 – Citigroup Global Markets Holdings Inc. priced $1.57 million of autocallable contingent coupon equity-linked securities due March 2, 2023 linked to the stock performance 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 8% if the stock closes at or above the coupon barrier price, 72% of the initial price, on the valuation date for that period, plus any previously unpaid coupon.
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 have not been called, the payout at maturity will be par unless the stock closes below its 72% barrier price during the life of the notes and also finishes below its initial level, in which case investors will receive a number of shares equal to $5,000 divided by the stock’s initial share price or, at the issuer’s option, the cash equivalent.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| 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: | $1.57 million
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| Maturity: | March 2, 2023
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| Coupon: | 8% annually, payable quarterly, if stock closes at or above coupon barrier price on valuation date for that period, plus any previously unpaid coupon
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| Price: | Par of $5,000
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| Payout at maturity: | Par unless the stock closes below its 72% barrier price during the life of the notes and also finishes below its initial level, in which case investors will receive 1.62561 shares per security or the cash equivalent at the issuer’s option
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| 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: | $3,075.77
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| Coupon barrier price: | $2,214.554, 72% of initial level
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| Final barrier price: | $2,214.554, 72% of initial level
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| Pricing date: | Feb. 25
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| Settlement date: | March 2
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328N3C0
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