By Sarah Lizee
Olympia, Wash., May 14 – Citigroup Global Markets Holdings Inc. priced $1.76 million of autocallable contingent coupon equity-linked securities due Nov. 16, 2020 linked to the lesser performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at the rate of 6.8% per year if the lesser-performing index closes at or above its knock-in value, 70% of its initial level, on the valuation date for that quarter.
Beginning in November, the notes will be automatically called at par if the lesser-performing index closes at or above its initial level on any quarterly potential redemption date.
The payout at maturity will be par unless the lesser-performing index finishes below its initial level and either index closes below its knock-in value during the life of the notes, in which case investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying indexes: | S&P 500 and Nasdaq-100
|
| Amount: | $1,755,000
|
| Maturity: | Nov. 16, 2020
|
| Coupon: | 6.8% per year, payable quarterly if lesser-performing index closes at or above knock-in value on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless lesser-performing index finishes below initial level and either index closes below knock-in value during life of notes, in which case 1% loss for every 1% that lesser-performing index declines from initial level
|
| Call: | Beginning in November, notes will be automatically called at par if lesser-performing index closes at or above initial level on any quarterly potential redemption date
|
| Initial levels: | 2,881.40 for S&P 500 and 7,586.531 for Nasdaq
|
| Knock-in value: | 2,016.980 for S&P 500 and 5,310.572 for Nasdaq, or 70% of initial levels
|
| Pricing date: | May 10
|
| Settlement date: | May 15
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.875%
|
| Cusip: | 17326YA89
|
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