By Sarah Lizee
Olympia, Wash., June 4 – Citigroup Global Markets Holdings Inc. priced $550,000 of autocallable contingent coupon equity linked securities due June 3, 2020 linked to Intel Corp. stock, 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 an annual rate of 8.1% if the underlying stock closes at or above its 67% coupon barrier on the observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date beginning in August 2019 and ending in March 2020.
The payout at maturity will be par unless the stock finishes below its 67% barrier, in which case investors will receive a number of shares of the underlying stock equal to $1,000 divided by the initial price or, at the issuer’s option, the cash value of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity linked securities
|
| Underlying stock: | Intel Corp.
|
| Amount: | $550,000
|
| Maturity: | June 3, 2020
|
| Coupon: | 8.1% annualized, payable each quarter that stock closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless stock finishes below final barrier, in which case 22.60909 shares or, at issuer’s option, cash value of those shares
|
| Call: | At par if stock closes at or above initial level on any quarterly observation date beginning in August 2019 and ending in March 2020
|
| Initial price: | $44.23
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| Coupon barrier: | $29.634, 67% of initial price
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| Final barrier: | $29.634, 67% of initial price
|
| Pricing date: | May 29
|
| Settlement date: | June 3
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17324XNC0
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