Chicago, Dec. 27 – Citigroup Global Markets Holdings Inc. priced $936,000 of autocallable contingent coupon equity-linked securities due Dec. 6, 2021 linked to the worst performing of the common stocks of Target Corp. and Costco Wholesale Corp., 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 9.85% if both stocks close at or above the coupon barrier level, 60% of their initial levels, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if both stocks close at or above their initial share prices on any quarterly valuation date from May 2019 through August 2021.
The payout at maturity will be par plus the contingent coupon, if any, unless either stock finishes below the 60% barrier value, in which case investors will be fully exposed to the losses of the worst performing stock.
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: | Target Corp. and Costco Wholesale Corp.
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| Amount: | $936,000
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| Maturity: | Dec. 6, 2021
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| Coupon: | 9.85% per year, payable quarterly if all stocks close at or above coupon barrier level on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | If final price of each stock is greater than or equal to barrier level, par plus final coupon, if any; otherwise, full exposure to losses of worst performing stock
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| Call: | At par plus contingent coupon if both stocks close at or above initial share price on any quarterly valuation date from May 2019 through August 2021
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| Initial share prices: | $71.88 for Target, $230.34 for Costco
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| Coupon barrier levels: | $43.128 for Target, $128.204 for Costco, 60% of initial share prices
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| Barrier levels: | $43.128 for Target, $128.204 for Costco, 60% of initial share prices
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| Pricing date: | Nov. 28
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| Settlement date: | Nov. 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17326Y2E5
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