Chicago, Feb. 21 – Citigroup Global Markets Holdings Inc. priced $1.78 million of autocallable contingent coupon notes due Feb. 20, 2020 linked to the common stock of Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes will pay a contingent coupon at the rate of 12% per year if the shares close at or above the coupon barrier, 60% of the initial share price, on the valuation date for that quarter.
The notes will be automatically called at par if the shares close at or above the initial share price on any of three valuation dates: May 14, Aug. 14 or Nov. 14.
If the notes are not called and the final share price is greater than or equal to the final barrier value, 60% of the initial share price, the payout at maturity will be par plus the coupon. Otherwise, investors will receive a fixed number of shares equal to the equity ratio, or at Citigroup’s election, the cash value of those shares.
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 stock: | Netflix, Inc.
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| Amount: | $1,775,000
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| Maturity: | Feb. 20, 2020
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| Contingent coupon: | 12%, payable quarterly if stock closes at or above coupon barrier value on related quarterly valuation date
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below final barrier value, in which case fixed number of shares equal to the equity ratio or cash value of those shares
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| Call: | Automatically at par plus the coupon on May 14, Aug. 14 or Nov. 14
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| Initial price: | $359.07
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| Coupon barrier: | $215.442, 60% of initial price
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| Final barrier: | $215.442, 60% of initial price
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| Pricing date: | Feb. 14
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| Settlement date: | Feb. 20
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| Agents: | Citigroup Global Markets Inc.
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| Fees: | 1% Cusip: | 17324XKS8
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