By Wendy Van Sickle
Columbus, Ohio, Jan. 11 – Citigroup Global Markets Holdings Inc. priced $4.96 million of autocallable contingent coupon equity-linked securities due Jan. 11, 2024 linked to the Alerian MLP exchange-traded fund, 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 17.85% if the fund closes at or above the coupon barrier level, 75% of the initial level, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if the fund closes at or above the initial level on any quarterly valuation date beginning in January 2020 and ending in October 2023.
The payout at maturity will be par plus the contingent coupon, if any, unless the fund finishes below the 75% final barrier level, in which case investors will lose 1% for each 1% decline of the fund from its initial level.
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 ETF: | Alerian MLP ETF
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| Amount: | $4.96 million
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| Maturity: | Jan. 11, 2024
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| Coupon: | 17.85% per year, payable quarterly if the fund closes at or above coupon barrier level on valuation date for that quarter
|
| Price: | Par
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| Payout at maturity: | If final level is greater than or equal to final barrier level, par plus final coupon, if any; otherwise, 1% loss for each 1% decline from initial level
|
| Call: | At par plus contingent coupon if the fund closes at or above initial level on any quarterly valuation date beginning in January 2020 and ending in October 2023
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| Initial share price: | $9.56
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| Coupon barrier level: | $7.17, 75% of initial share price
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| Final barrier level: | $7.17, 75% of initial share price
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| Pricing date: | Jan. 7
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| Settlement date: | Jan. 10
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | None
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| Cusip: | 17326Y6U5
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