By Sarah Lizee
Olympia, Wash., Oct. 2 – Citigroup Global Markets Holdings Inc. priced $1.13 million of autocallable phoenix securities due Oct. 13, 2020 linked to the common stock of Costco Wholesale 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 annual rate of 10.4% if the stock closes at or above its 80% coupon barrier on the related quarterly observation date, in which case a coupon will also be paid for any previously unpaid quarter during the life of the notes.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on a quarterly valuation date.
The payout at maturity will be par plus the coupon and any previously unpaid coupons unless the stock finishes below 80% of its initial level, in which case investors will be fully exposed to the loss.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable phoenix securities
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| Underlying stock: | Costco Wholesale Corp.
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| Amount: | $1.13 million
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| Maturity: | Oct. 13, 2020
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| Coupon: | 10.4% annualized, payable each quarter if stock closes at or above coupon barrier on determination date for that quarter, in which case a coupon will also be paid for any previously unpaid quarter during the life of the notes
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| Price: | Par
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| Payout at maturity: | Par plus the coupon and any previously unpaid coupons unless the stock finishes below 65% of its initial level, in which case full exposure to loss
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| Call: | At par plus contingent coupon if stock closes at or above initial level on a quarterly valuation date
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| Initial share price: | $288.51
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| Coupon barriers/final barriers: | $230.808, 80% of initial level
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17327THE9
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