By Tali Rackner
Minneapolis, May 31 – Citigroup Global Markets Holdings Inc. priced $2.05 million of autocallable contingent coupon equity-linked securities due May 28, 2019 tied to the class A common stock of Facebook, Inc. and the common stock of Apple 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 9% if each stock closes at or above its 75% coupon barrier price on the review date for that quarter.
The notes will be automatically redeemed at par plus interest if each stock closes at or above its initial price on any potential redemption date beginning in August.
If the notes are not called and the final price of each stock is at least 75% of its initial price, the payout at maturity will be par. Otherwise, the payout will be the final share price of the lesser-performing stock multiplied by its equity ratio or, at the issuers option, the cash value.
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: | Facebook Inc. (Symbol: FB), Apple, Inc. (Symbol: AAPL)
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| Amount: | $2,051,000
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| Maturity: | May 28, 2019
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| Coupon: | 9% annualized, payable quarterly if each stock closes at or above coupon barrier price on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par if each stock’s final price is at least 75% of initial price; otherwise, final share price of the lesser-performing stock multiplied by its equity ratio
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| Call: | At par plus interest if each stock closes at or above initial price on any potential redemption date beginning in August
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| Initial prices: | $183.80 for Facebook, $187.16 for Apple
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| Coupon barriers/final barriers: | $137.85 for Facebook, $140.37 for Apple; 75% of initial prices
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| Equity ratios: | 5.4407 for Facebook, 5.34302 for Apple
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| Pricing date: | May 22
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| Settlement date: | May 25
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324XLL2
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