By Wendy Van Sickle
Columbus, Ohio, March 27 – Citigroup Global Markets Holdings Inc. priced $3.05 million of autocallable contingent coupon equity-linked securities due March 28, 2018 linked to the worse performing of the common stocks of Capital One Financial Corp. and Bank of America Corp., 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 each stock closes at or above the coupon barrier, 77.5% of the initial price, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any valuation date.
The payout at maturity will be par plus the contingent coupon unless either stock finishes below its 77.5% barrier level, in which case investors will be fully exposed to any losses of the worse performing stock.
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 stocks: | Capital One Financial Corp. and Bank of America Corp.
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| Amount: | $3,053,000
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| Maturity: | March 28, 2018
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| Coupon: | 9% per year, payable quarterly if closing price of each stock is greater than or equal to barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock finishes below barrier price, in which case investors receive a number of shares or lesser-performing stock equal to $1,000 divided by the initial share price or the cash equivalent
|
| Call: | At par plus contingent coupon if closing share price of each stock is greater than or equal to initial share price on any valuation date
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| Initial share prices: | $83.78 for Capital One, $23.07 for BofA
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| Barrier prices: | $64.93 for Capital One, $17.879 for BofA, 77.5% of initial share prices
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| Pricing date: | March 23
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| Settlement date: | March 28
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17324XBM1
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