By Wendy Van Sickle
Columbus, Ohio, Oct. 21 – Citigroup Global Markets Holdings Inc. priced $1.75 million of autocallable contingent coupon equity-linked securities due Oct. 22, 2020 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7% per year if the stock closes at or above its barrier value, 80% of its initial share price, on the valuation date for that quarter.
The notes will be automatically called at par if the stock closes at or above its initial share price on any quarterly valuation date other than the final one.
If the final share price is greater than or equal to the barrier value, the payout at maturity will be par. Otherwise, investors will receive a number of Amazon.com share equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
The notes will be guaranteed by Citigroup Inc.
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: | Amazon.com, Inc. (Symbol: AMZN)
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| Amount: | $1,745,000
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| Maturity: | Oct. 22, 2020
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| Coupon: | 7% per year, payable quarterly if Amazon.com stock closes at or above barrier value on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless final share price is less than barrier value, in which case 2.79723 Amazon.com shares or, at issuer’s option, amount in cash equal to value of those shares
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| Call: | Automatically at par if stock closes at or above initial share price on any quarterly valuation date other than final one
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| Initial share price: | $1,787.48
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| Barrier value: | $1,429.984, or 80% of initial share price
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| Pricing date: | Oct. 17
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| Settlement date: | Oct. 22
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324XSK7
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