Chicago, Sept. 19 – Citigroup Global Markets Holdings Inc. priced $1.32 million of autocallable contingent coupon equity-linked securities due Sept. 2, 2027 linked to the stock performance of Devon Energy 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 18% if the stock closes at or above the coupon barrier price, 50% of the initial price, on the valuation date for that period. Previously unpaid coupons will also be paid.
The notes will be automatically called at par plus the contingent coupon if the stock close at or above the initial share price on any quarterly valuation date after one year.
If the notes are not called and the final share price is greater than or equal to the 50% final barrier price, the payout at maturity will be par plus the final coupon. Otherwise, investors be fully exposed to the stock’s decline from its initial share price.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stock: | Devon Energy Corp.
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| Amount: | $1,324,000
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| Maturity: | Sept. 2, 2027
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| Coupon: | 18% annually, payable quarterly, if stock closes at or above coupon barrier price on valuation date for that period; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and final share price is greater than or equal to final barrier price, par plus final coupon; otherwise, lose 1% for every 1% decline from initial share price
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| Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any quarterly valuation date after one year
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| Initial share price: | $74.14
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| Coupon barrier price: | $37.07; 50% of initial level
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| Final barrier price: | $37.07; 50% of initial level
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| Pricing date: | Aug. 29
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| Settlement date: | Aug. 31
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.35%
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| Cusip: | 17330RB53
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