By Wendy Van Sickle
Columbus, Ohio, Dec. 23 – Citigroup Global Markets Holdings Inc. priced $1.83 million autocallable contingent coupon equity-linked securities due Dec. 22, 2017 linked to Alibaba Group Holding Ltd. American Depository shares, 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 annualized rate of 9% if the stock closes at or above its 80% coupon barrier on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial share price on any quarterly redemption date beginning in March 2017.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 80% barrier level, in which case a number of Alibaba shares equal to $1,000 principal amount 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.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stock: | Alibaba Group Holding Ltd. (NYSE: BABA)
|
| Amount: | $1,828,000
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| Maturity: | Dec. 22, 2017
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| Coupon: | 9% per year, payable quarterly if stock closes at or above 80% coupon barrier on valuation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus the contingent coupon unless stock finishes below its 80% barrier level, in which case 11.2448 Alibaba shares
|
| Call: | At par plus contingent coupon if each stock closes at or above its initial level on any quarterly redemption date beginning March 2017
|
| Initial level: | $88.93
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| Barrier level: | $71.144, 80% of initial level
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| Pricing date: | Dec. 19
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| Settlement date: | Dec. 22
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.25%
|
| Cusip: | 17324XAL4
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