By Wendy Van Sickle
Columbus, Ohio, May 3 – Citigroup Global Markets Holdings Inc. priced $1.47 million of autocallable contingent coupon notes due April 30, 2020 linked to the common stock of CVS Health Corp., 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 a rate of 8.5% per year if the shares close at or above the coupon barrier, 75% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par plus the coupon if the shares close at or above the initial share price on any quarterly valuation date.
If the notes are not called and the final share price is greater than or equal to the final barrier value, 75% of the initial share price, the payout at maturity will be par plus the coupon.
Otherwise, investors will receive 18.78640 CVS 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 shares: | CVS Health Corp.
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Amount: | $1.47 million
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Maturity: | April 30, 2020
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Contingent coupon: | 8.5%, payable quarterly if stock closes at or above coupon barrier level on related quarterly valuation date
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Price: | Par
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Payout at maturity: | Par plus coupon unless stock finishes below final barrier value, in which case 18.78640 CVS shares
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Call: | Automatically at par plus the coupon on any quarterly valuation date
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Initial price: | $53.23
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Coupon barrier: | $39.923, 75% of initial price
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Downside threshold: | $39.923, 75% of initial price
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Pricing date: | April 25
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Settlement date: | April 30
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Agents: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17324XJA9
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