By Tali Rackner
Norfolk, Va., Oct. 21 – Citigroup Global Markets Holdings Inc. priced $2.63 million of autocallable contingent coupon equity linked securities due Oct. 23, 2017 linked to the common stock of Halliburton Co., 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 annualized rate of 11.62% if Halliburton stock closes at or above the barrier price, 75% of the initial price, on the valuation date for that quarter.
Beginning in January 2017, the notes will be automatically called at par of $1,000 plus the contingent coupon if Halliburton shares close at or above the initial share price on any valuation date until July 2017.
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 receive a number of Halliburton shares equal to $1,000 divided by the initial share price or, at the company’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: | Halliburton Co. (Symbol: HAL)
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| Amount: | $2,625,000
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| Maturity: | Oct. 23, 2017
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| Coupon: | 11.62%, payable quarterly if Halliburton stock closes at or above barrier price on the valuation date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus contingent coupon if stock’s final price is at least 75% of its initial price; otherwise, 21.24495 Halliburton shares or cash equivalent
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| Call: | At par plus contingent coupon Halliburton closes at or above initial price on any valuation date beginning in January 2017 and ending in July 2017
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| Initial price: | $47.07
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| Coupon barrier: | $35.303, 75% of initial price
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| Pricing date: | Oct. 18
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| Settlement date: | Oct. 21
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324CBX3
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