By Sarah Lizee
Olympia, Wash., March 19 – Citigroup Global Markets Holdings Inc. priced $1.2 million of autocallable geared buffer contingent coupon equity-linked securities due March 17, 2022 linked to JPMorgan Chase & Co. and Microsoft 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 monthly coupon at an annualized rate of 9% if each asset closes above its coupon barrier, 70.5% of its initial level, on the valuation date that month.
The notes will be called at par if each asset closes at or above its initial level on any quarterly call observation date after one year.
If the lesser performing asset finishes at or above 70.5% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1.4184397% for each 1% loss of the lesser performing asset beyond 29.5%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable geared buffer contingent coupon equity-linked securities
|
| Underlying stocks: | JPMorgan Chase & Co. and Microsoft Corp.
|
| Amount: | $1.2 million
|
| Maturity: | March 17, 2022
|
| Coupon: | 9%, payable monthly if each asset closes above coupon barrier on the valuation date that month
|
| Price: | Par
|
| Call: | At par if each asset closes at or above initial level on any quarterly call observation date after one year
|
| Payout at maturity: | If the lesser performing asset finishes at or above 70.5% of its initial level, par plus the final coupon; otherwise, 1.4184397% loss for each 1% loss of the lesser performing asset beyond 29.5%
|
| Initial levels: | $105.34 for JPMorgan, $114.59 for Microsoft
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| Coupon barriers: | $74.265 for JPMorgan, $80.786 for Microsoft; 70.5% of initial levels
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| Pricing date: | March 14
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| Settlement date: | March 19
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.1%
|
| Cusip: | 17326YDT0
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