By Wendy Van Sickle
Columbus, Ohio, Jan. 25 – Citigroup Global Markets Holdings Inc. priced $5.35 million of autocallable contingent coupon equity-linked securities due Jan. 25, 2018 linked to the worse performing of the common stocks of Apple Inc. and Capital One Financial Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 8.75% if each 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 each stock closes at or above its initial share price on any quarterly valuation date.
If the final share price of the lesser-performing stock is greater than or equal to its barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will receive a fixed number of the lesser-performing underlying shares equal to the applicable equity ratio or the cash 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 stock: | Apple Inc. and Capital One Financial Corp.
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| Amount: | $5.35 million
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| Maturity: | Jan. 25, 2018
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| Coupon: | 8.75% per year, payable quarterly if each stock closes at or above barrier level on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus the contingent coupon unless either stock finishes below its 70% barrier level, in which case 8.33333 Apple shares or 11.44951 Capital One shares, depending on which is the lesser performing, or the cash value of those shares
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| Call: | At par plus contingent coupon if each stock closes at or above its initial level on any quarterly valuation date
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| Initial levels: | $120.00 for Apple, $87.34 for Capital One
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| Barrier levels: | $84.00 for Apple, $61.138 for Capital One; 70% of initial levels
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| Pricing date: | Jan. 20
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| Settlement date: | Jan. 25
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17324XAP5
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