By Angela McDaniels
Tacoma, Wash., Oct. 21 – Citigroup Global Markets Holdings Inc. priced $1.36 million of autocallable contingent coupon equity-linked securities due Oct. 28, 2021 linked to the common stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The principal amount of each note is $5,000.
Every six months, 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 semiannual period.
The notes will be automatically called at par if the stock closes at or above its initial share price on April 23, 2020, Oct. 23, 2020 or April 23, 2021.
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 Alphabet share equal to $5,000 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 are guaranteed by Citigroup Inc.
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: | Alphabet Inc. (Symbol: GOOG)
|
| Amount: | $1,355,000
|
| Maturity: | Oct. 28, 2021
|
| Coupon: | 7% per year, payable semiannually if Alphabet stock closes at or above barrier value on valuation date for that semiannual period
|
| Price: | Par of $5,000
|
| Payout at maturity: | Par unless final share price is less than barrier value, in which case 3.97573 Alphabet shares or, at issuer’s option, amount in cash equal to value of those shares
|
| Call: | Automatically at par if stock closes at or above initial share price on April 23, 2020, Oct. 23, 2020 or April 23, 2021
|
| Initial share price: | $1,257.63
|
| Barrier value: | $1,006.104, or 80% of initial share price
|
| Pricing date: | Oct. 23
|
| Settlement date: | Oct. 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17324XTP5
|
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