By William Gullotti
Buffalo, N.Y., Nov. 14 – Citigroup Global Markets Holdings Inc. priced $10 million of airbag autocallable contingent yield notes due May 13, 2024 linked to the stock performance of Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest will be payable monthly at an annualized rate of 11.92%, equivalent to 5.96% for the term, if the stock closes at or above its 85% coupon barrier on the related observation date. Previously unpaid interest, if any, will be automatically included whenever a payment is made.
The notes will be called automatically at par plus the coupon if the shares close at or above the initial share price on any monthly observation date.
The payout at maturity will be par plus the final coupon unless the final share price is less than the conversion price, 85% of the initial share price, in which case the payout will be a number of shares equal to $1,000 divided by the conversion price.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Airbag autocallable contingent yield notes
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Underlying stock: | Microsoft Corp.
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Amount: | $10 million
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Maturity: | May 13, 2024
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Coupon: | 11.92% per year, or 5.96% for the term, payable monthly if stock closes at or above coupon barrier on related observation date; coupon payment events will automatically include any previously unpaid coupons
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Price: | Par
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Payout at maturity: | Par plus final coupon unless final share price is less than conversion price, in which case 3.23918 shares per note
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Call: | Automatically at par plus coupon if the shares close at or above initial share price on any monthly observation date
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Initial share price: | $363.20
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Coupon barrier: | $308.72; 85% of initial share price
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Conversion price: | $308.72; 85% of initial share price
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Strike date: | Nov. 8
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Pricing date: | Nov. 9
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Settlement date: | Nov. 14
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Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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Fees: | 0.1%
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Cusip: | 17331M816
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