By Wendy Van Sickle
Columbus, Ohio, Nov. 19 – Citigroup Global Markets Holdings Inc. priced $800,000 of autocallable contingent coupon notes due Nov. 17, 2020 linked to the least performing of the common stocks of Wells Fargo & Co., JPMorgan Chase & Co. and Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.5% if each underlying stock closes at or above its 65% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par plus the coupon unless any stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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 notes
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| Underlying stocks: | Wells Fargo & Co., JPMorgan Chase & Co. and Bank of America Corp.
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| Amount: | $800,000
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| Maturity: | Nov. 17, 2020
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| Coupon: | 8.5% annualized, payable quarterly if each stock closes at or above 65% coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above 65% trigger level, par plus coupon; otherwise, 1% loss for each 1% decline of worst performing stock
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| Call: | At par if each stock closes at or above its initial level on any quarterly call observation date after six months
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| Initial levels: | $53.04 for Wells, $28.52 for BofA, $111.29 for JPMorgan
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| Barrier levels: | $34.476 for Wells, $18.538 for BofA, $72.339 for JPMorgan; 65% of initial levels
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| Pricing date: | Nov. 9
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| Settlement date: | Nov. 13
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.05%
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| Cusip: | 17326YLK0
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