By Wendy Van Sickle
Columbus, Ohio, July 16 – Citigroup Global Markets Holdings Inc. priced $1.94 million of autocallable contingent coupon equity-linked securities due July 6, 2021 tied to the common stocks of Allergan plc and Merck & Co., 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 9.5% if each stock closes at or above its 65% 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 quarterly redemption date after six months.
If the notes are not called and the final price of each stock is at least 65% of its initial price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lesser-performing stock.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Allergan plc and Merck & Co., Inc.
|
| Amount: | $1,935,000
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| Maturity: | July 6, 2021
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| Coupon: | 9.5% annualized, payable quarterly if each stock closes at or above coupon barrier price on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par if each stock’s final price is at least 65% of initial price; otherwise, full exposure to decline of lesser-performing stock
|
| Call: | At par plus interest if each stock closes at or above initial price on any quarterly redemption date after six months
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| Initial prices: | $166.60 for Allergan, $59.88 for Merck
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| Coupon barriers/final barriers: | $108.29 for Allergan, $38.922 for Merck; 65% of initial prices
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| Pricing date: | June 27
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| Settlement date: | June 29
|
| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17324CWK8
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