By Angela McDaniels
Tacoma, Wash., June 14 – Citigroup Global Markets Holdings Inc. priced $2.14 million of autocallable contingent coupon equity-linked securities due June 14, 2018 linked to the common stock of Regeneron Pharmaceuticals, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at an annualized rate of 13.5% if Regeneron stock closes at or above the barrier price, 70% of the initial price, on the valuation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if Regeneron shares close at or above the initial share price on any quarterly valuation date other than the final one.
If the final share price is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the stock’s decline from its initial share price.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stock: | Regeneron Pharmaceuticals, Inc. (Nasdaq: REGN)
|
| Amount: | $2,141,000
|
| Maturity: | June 14, 2018
|
| Coupon: | 13.5% per year, payable quarterly if Regeneron stock closes at or above barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to barrier price, par plus contingent coupon; otherwise, exposure to stock’s decline from initial share price
|
| Call: | Automatically at par plus contingent coupon if Regeneron shares close at or above initial share price on any quarterly valuation date other than final one
|
| Initial share price: | $372.03
|
| Barrier price: | $260.421, 70% of initial share price
|
| Pricing date: | June 10
|
| Settlement date: | June 15
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17324C5Y8
|
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