By Susanna Moon
Chicago, Sept. 19 – Citigroup Global Markets Holdings Inc. priced $1.23 million of autocallable contingent coupon equity-linked securities due Sept. 17, 2018 linked to the lesser performing of the common stocks of Biogen Inc. and Celgene Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 11% if each stock closes at or above its 77.5% coupon barrier 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 quarterly valuation date.
The payout at maturity will be par plus the contingent coupon unless either stock closes below its 77.5% barrier level, in which case the payout will be a number of shares of the worse performing stock equal to $1,000 divided by the initial share price, at the issuer’s option, the cash equivalent.
The notes are guaranteed by Citigroup Inc.
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: | Biogen Inc. (Symbol: BIIB) and Celgene Corp. (Symbol: CELG)
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| Amount: | $1,225,000
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| Maturity: | Sept. 17, 2018
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| Coupon: | 11% per year, payable quarterly if each stock closes at or above 77.5% coupon barrier on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above barrier price, par plus contingent coupon; otherwise, 3.03315 shares of Biogen or 7.03878 shares of Celgene
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly valuation date from December 2017 through June 2018
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| Initial share prices: | $329.69 for Biogen and $142.07 for Celgene
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| Barrier prices: | $255.51 for Biogen and $110.104 for Celgene; 77.5% of initial share prices
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| Pricing date: | Sept. 12
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| Settlement date: | Sept. 15
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17324XDA5
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