By Wendy Van Sickle
Columbus, Ohio, Feb. 20 – Citigroup Global Markets Holdings Inc. priced $1.68 million of autocallable contingent coupon equity-linked securities due Feb. 20, 2019 linked to the common stock of PayPal Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at an annualized rate of 12.58% if the stock closes at or above the coupon barrier price, 80% of the initial price, on the valuation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly valuation date.
If the final share price is greater than or equal to the 80% barrier price, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will receive a number of PayPal shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the 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: | PayPal Holdings, Inc. (Symbol: PYPL)
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| Amount: | $1,675,000
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| Maturity: | Feb. 20, 2019
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| Coupon: | 12.58% per year, payable quarterly if stock closes at or above coupon barrier price on valuation date for that quarter
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| Price: | Par of $1,000
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| Payout at maturity: | If final share price is greater than or equal to barrier price, par plus contingent coupon; otherwise, 12.94163 PayPal shares or cash amount equal to value of those shares
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| Call: | Automatically at par plus contingent coupon if shares close at or above initial share price on any quarterly valuation date
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| Initial share price: | $77.27
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| Coupon barrier/barrier price: | $61.816, 80% of initial share price
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| Pricing date: | Feb. 14
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| Settlement date: | Feb. 20
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324XMB3
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