By Kiku Steinfeld
Chicago, Oct.4 – Citigroup Global Markets Holdings Inc. priced $500,000 autocallable contingent coupon equity-linked securities due Sept. 14, 2020 tied to Cigna Corp. stock, 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 at an annualized rate of 9.05% plus any previously unpaid coupons if the stock closes at or above 66% of its initial level on the valuation date for that quarter.
The notes will automatically be called at par plus the contingent coupon and any previously unpaid coupons if the stock finishes at or above its initial value on any quarterly valuation date other than the final one.
The payout at maturity will be par plus the contingent coupon and any previously unpaid coupons if the stock finishes above its 66% final barrier. Otherwise, investors will receive a fixed number of shares of the underlying stock equal to $1000 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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stock: | Cigna Corp.
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| Amount: | $500,000
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| Maturity: | Sept. 14, 2020
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| Coupon: | 9.05% annual rate plus any previously unpaid coupons, payable quarterly if stock finishes at or above coupon barrier on quarterly valuation date
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon and any previously unpaid coupons if stock finishes above final barrier; otherwise, 6.16675 shares or, at issuer’s option, cash value of shares
|
| Call: | Automatically at par plus contingent coupon and any previously unpaid coupons if stock closes at or above initial level on any quarterly valuation date other than final one
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| Initial level: | $162.16
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| Coupon barrier: | $107.026, 66% of initial level
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| Final barrier: | $107.026, 66% of initial level
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| Pricing date: | Sept. 9
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| Settlement date: | Sept. 12
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.025%
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| Cusip: | 17324XSR2
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