By Kiku Steinfeld
Chicago, June 13 – Citigroup Global Markets Holdings Inc. priced $1.85 million of autocallable contingent coupon equity-linked securities due May 29, 2020 linked to the common stock of Square, Inc., 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 11.1% per year if the shares close at or above the coupon barrier, 60% 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, 60% of the initial share price, the payout at maturity will be par plus the coupon.
Otherwise, investors will receive 15.68627 Square shares or the cash value of the shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying shares: | Square, Inc.
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| Amount: | $1,850,000
|
| Maturity: | May 29, 2020
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| Contingent coupon: | 11.1%, payable quarterly if stock closes at or above coupon barrier level on related quarterly valuation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless stock finishes below final barrier value, in which case 15.68627 Square shares or the cash value of those shares
|
| Call: | Automatically at par plus the coupon on any quarterly valuation date
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| Initial price: | $63.75
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| Coupon barrier: | $38.25, 60% of initial price
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| Final barrier: | $38.25, 60% of initial price
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| Pricing date: | May 23
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| Settlement date: | May 29
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| Agents: | Citigroup Global Markets Inc.
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| Fees: | 1%
|
| Cusip: | 17324XPN4
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