By Wendy Van Sickle
Columbus, Ohio, May 3– Citigroup Global Markets Holdings Inc. priced $3.63 million of contingent income autocallable securities due May 1, 2020 linked to the common shares of Qualcomm 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 8.05% if the shares close at or above the 80% downside threshold on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the shares close at or above 95% of their initial level on any of the determination dates other than the final one.
The payout at maturity will be par plus the final coupon unless the shares finish below the downside threshold, in which case investors will lose 1% for each 1% decline.
The underwriter is Citigroup Global Markets Inc. with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Qualcomm Inc.
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| Amount: | $3,633,850
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| Maturity: | May 1, 2020
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| Coupon: | 8.05% per year, payable quarterly if shares close at or above downside threshold level on determination date for that period
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | At par plus contingent coupon if shares close at or above 95% of initial level on any determination date other than the final one
|
| Initial share price: | $54.74
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| Downside threshold: | $42.992, 80% of initial share price
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| Pricing date: | April 28
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| Settlement date: | May 3
|
| Agent: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management handling distribution
|
| Fees: | 2.5%
|
| Cusip: | 17325E713
|
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