By Wendy Van Sickle
Columbus, Ohio, March 1 – Citigroup Global Markets Holdings Inc. priced $2.53 million of autocallable contingent coupon equity-linked securities due Feb. 28, 2019 tied to shares of American Airlines Group Inc., Celgene Corp. and Nordstrom, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a monthly coupon of 11% per year if each stock closes above its 50% barrier on the observation date for that month.
The notes will be automatically redeemed at par plus interest if the worst-performing stock closes at or above its initial price on any quarterly observation date beginning in May 2017.
If the notes are not called each stock finishes above its barrier level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the worst-performing stock.
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: | American Airlines Group Inc., Celgene Corp. and Nordstrom, Inc.
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| Amount: | $2.53 million
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| Maturity: | Feb. 28, 2019
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| Coupon: | 11% per year, payable monthly if closing price of each stock is greater than or equal to barrier price on observation date that month
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below barrier price, in which case investors receive a number of shares of the least-performing stock equal to $1,000 divided by the initial share price or the cash equivalent
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| Call: | At par plus contingent coupon if worst-performing stock closes at or above its initial price on any quarterly observation date beginning in May 2017
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| Initial share prices: | $46.10 for American, $119.46 for Celgene, $43.94 for Nordstrom
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| Barrier prices: | $23.05 for American, $59.73 for Celgene, $21.97 for Nordstrom, 50% of initial share price
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.35%
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| Cusip: | 17324CEZ5
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