By Tali Rackner
Norfolk, Va., Sept. 22 – Citigroup Global Markets Holdings Inc. priced $1.4 million of autocallable contingent coupon equity-linked securities due Sept. 25, 2017 linked to the worst performing of the common stock of Apple Inc., the class A common stock of Facebook, Inc. and 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.
Each quarter, the notes will pay a contingent coupon at an annual rate of 10% if the worst-performing stock closes at or above its barrier price, 70% of its initial share price, on the valuation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if the worst-performing stock closes at or above its initial share price on any quarterly potential redemption date.
If the final share price of the worst-performing stock is greater than or equal to its barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, the payout will be a number of shares of the worst-performing stock equal to $1,000 divided by that stock’s initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
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 stocks: | Apple Inc. (Nasdaq: AAPL), Facebook, Inc. (Nasdaq: FB) and Amazon.com, Inc. (Nasdaq: AMZN)
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| Amount: | $1.4 million
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| Maturity: | Sept. 25, 2017
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| Coupon: | 10% per year, payable quarterly if worst-performing stock closes at or above barrier price on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | If final share price of worst-performing stock is greater than or equal to barrier price, par plus contingent coupon; otherwise, a number of shares of the worst-performing stock equal to $1,000 divided by that stock’s initial share price or cash value (8.80437 for Apple, 7.77303 for Facebook and 1.29016 for Amazon)
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| Call: | Automatically at par plus contingent coupon if worst-performing stock closes at or above initial share price on any potential redemption date
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| Initial share prices: | $113.58 for Apple, $128.65 for Facebook and $775.10 for Amazon
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| Barrier prices: | $79.506 for Apple, $90.055 for Facebook and $542.57 for Amazon; 70% of initial share prices
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| Pricing date: | Sept. 19
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| Settlement date: | Sept. 22
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17324CAP1
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