By Wendy Van Sickle
Columbus, Ohio, July 2 – Citigroup Global Markets Holdings Inc. priced $4.53 million of autocallable phoenix securities due July 10, 2019 linked to Zions Bancorp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if the stock closes at or above its 78% coupon barrier on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on any review date.
The payout at maturity will be par unless the stock finishes below its 78% barrier, in which case investors will be fully exposed to any losses.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable phoenix securities
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| Underlying stock: | Zions Bancorp.
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| Amount: | $4,534,000
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| Maturity: | July 10, 2019
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| Coupon: | 10% annualized, payable each quarter if stock closes at or above 78% coupon barrier on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes above downside threshold, par; otherwise, full exposure to decline
|
| Call: | At par plus contingent coupon if stock closes at or above initial level on Oct. 4, Jan. 3, 2019 or April 4, 2019
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| Initial share price: | $55.51
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| Barrier levels: | $43.298, 78% of initial level
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| Pricing date: | June 22
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| Settlement date: | June 27
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| Agent: | Citigroup Global Markets Inc. with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
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| Fees: | 1%
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| Cusip: | 17324CWM4
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