Chicago, Sept. 3 – Citigroup Global Markets Holdings Inc. priced $900,000 autocallable contingent coupon equity-linked securities due Aug. 11, 2020 tied to CVS Health Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a quarterly contingent coupon of a 7.5% annualized rate if shares of CVS shares close above their 77% coupon barrier value on the relevant valuation date.
The notes will be automatically called at par plus the coupon if the value of CVS stock is above its initial level on any quarterly valuation date.
The payout at maturity will be par if the stock finishes above its 77% final barrier value. Otherwise, investors will receive 18.48771 shares of CVS stock, or if the issuer elects 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: | CVS Health Corp.
|
| Amount: | $900,000
|
| Maturity: | Aug. 11, 2020
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| Coupon: | 7.5% annual rate, payable quarterly if stock closes above 77% coupon barrier value on relevant valuation date
|
| Price: | Par
|
| Payout at maturity: | Par if stock finishes above 77% barrier value, otherwise 18.48771 shares of CVS or the cash value of those shares, i.e. full exposure to the losses of the stock
|
| Call: | Automatically at par plus the coupon if stock closes above initial level on quarterly valuation date
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| Initial price: | $54.09
|
| Coupon barrier: | $41.6493, 77% of initial underlying value
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| Final barrier value: | $41.6493, 77% of initial underlying value
|
| Pricing date: | Aug. 6
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| Settlement date: | Aug. 9
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17324XRR3
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