By Sarah Lizee
Olympia, Wash., May 14 – Citigroup Global Markets Holdings Inc. priced $1 million of autocallable contingent coupon notes due May 14, 2020 linked to the least performing of the common stocks of Micron Technology, Inc. and MetLife, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 16.5% if each underlying stock closes at or above its 60% barrier level on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par plus the coupon unless either stock finishes below its barrier level, in which case investors will receive a number of shares of the least performing stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying stocks: | Micron Technology, Inc. and MetLife, Inc.
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| Amount: | $1 million
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| Maturity: | May 14, 2020
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| Coupon: | 16.5% annualized, payable quarterly if each stock closes at or above barrier level on review date for that period
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above barrier level, par plus coupon; otherwise, a number of shares of least performing stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent
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| Call: | At par if each stock closes at or above its initial level on any quarterly call observation date
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| Initial levels: | $39.27 for Micron, $47.48 for MetLife
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| Barrier levels: | $23.562 for Micron, $28.488 for MetLife; 60% of initial levels
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| Pricing date: | May 9
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| Settlement date: | May 14
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324XPT1
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