By Wendy Van Sickle
Columbus, Ohio, Nov. 18 – Citigroup Global Markets Holdings Inc. priced $932,000 of autocallable contingent coupon equity-linked securities due Nov. 21, 2017 linked to the common stock of Apple Inc. and the class A common stock of Alphabet 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 annual rate of 10% if both stocks closes at or above the barrier level, 80% of the initial level, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if both stocks close at or above the initial share price on any quarterly valuation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless either stock finishes below the 80% barrier level, in which case investors will receive a number of shares of the worse performing stock equal to the principal divided by the 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 stocks: | Apple Inc. and Alphabet Inc.
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| Amount: | $932,000
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| Maturity: | Nov. 21, 2017
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| Coupon: | 10% per year, payable quarterly if both stocks close at or above barrier level on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | If final price of each stock is greater than or equal to barrier level, par plus final coupon; otherwise, a number of shares of worse-performing stock equal to the principal divided by the initial share price, or, at issuer’s option, cash equivalent
|
| Call: | At par plus contingent coupon if both stocks close at or above initial share price on any quarterly valuation date other than the final one
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| Initial share prices: | $109.99 for Apple, $779.98 for Alphabet
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| Barrier levels: | $87.992 for Apple, $623.984 for Alphabet, 80% of initial share prices
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 21
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17324CCD6
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