By Wendy Van Sickle
Columbus, Ohio, Feb. 14 – Citigroup Global Markets Holdings Inc. priced $2.28 million of autocallable contingent coupon equity-linked securities due Feb. 10, 2022 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 8.75% if BofA stock closes at or above the barrier price, 75% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if BofA shares close at or above the initial share price on any valuation date after six months.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the shares finish below the barrier level, in which case investors will receive a number of shares equal to the principal divided by the initial share price or the cash equivalent.
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
|
| Underlying stock: | Bank of America Corp.
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| Amount: | $2,281,000
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| Maturity: | Feb. 10, 2022
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| Coupon: | 8.75% per year, payable quarterly if closing price of BofA shares is greater than or equal to barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless shares finish below final barrier level, in which case, number of shares equal to principal divided by initial share price or cash equivalent
|
| Call: | At par plus contingent coupon if closing share price is greater than or equal to initial share price on any valuation date after six months
|
| Initial share price: | $34.61
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| Barrier price: | $25.958, 75% of initial share price
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| Pricing date: | Feb. 7
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| Settlement date: | Feb. 12
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17324XXL9
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