By Wendy Van Sickle
Columbus, Ohio, Nov. 4 – Citigroup Global Markets Holdings Inc. priced $568,000 of autocallable contingent coupon equity-linked securities due Nov. 2, 2020 tied to the common stocks of JPMorgan Chase & Co., Apple Inc. and Verizon Communications Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 10.5% per year, payable monthly if each stock closes above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be automatically redeemed at par plus interest if the worst-performing stock closes at or above its initial price on any monthly autocall date after three months.
If the notes are not called and the final price each stock is at least 70% of its initial price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the loss of the least performing stock.
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 stocks: | JPMorgan Chase & Co., Apple Inc. and Verizon Communications Inc.
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| Amount: | $568,000
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| Maturity: | Nov. 2, 2020
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| Coupon: | 10.5%, payable monthly if stocks close above coupon barrier on observation date
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| Price: | Par
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| Payout at maturity: | Par if each stock’s final price is at least 70% of initial price; otherwise, full exposure to loss of least performing stock
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| Call: | At par plus interest if the worst-performing stock closes at or above initial price on any monthly autocall date after three months
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| Initial prices: | $126.51 for JPMorgan, $249.05 for Apple, $60.18 for Verizon
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| Coupon barriers: | $88.557 for JPMorgan, $174.355 for Apple, $42.126 for Verizon; 70% of initial prices
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| Final barriers: | $88.557 for JPMorgan, $174.355 for Apple, $42.126 for Verizon; 70% of initial prices
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| Pricing date: | Oct. 28
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| Settlement date: | Oct. 31
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17327TWV4
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