By Kiku Steinfeld
Chicago, Sept. 3 – Citigroup Global Markets Holdings Inc. priced $3 million of autocallable contingent coupon equity-linked securities due Sept. 1, 2022 linked to the stocks of AT&T Inc. and Energy Select Sector SPDR fund., 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 22% if each stock closes at or above the coupon barrier price, 80% of the initial price, on the valuation date for that quarter.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial price on any quarterly valuation date.
If the notes are not called and each stock finishes at or above final barrier price, 70% of its initial level, the payout at maturity will be par plus any final coupon. Otherwise, investors will be exposed to the decline of the worst performer.
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: | AT&T Inc. and Energy Select Sector SPDR fund
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| Amount: | $3 million
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| Maturity: | Sept. 1, 2022
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| Coupon: | 22% annualized rate, payable quarterly if each stock closes at or above coupon barrier price, on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus any final contingent coupon if each stock closes at or above final barrier; otherwise, investors will be exposed to the decline of the worst performer
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly valuation date
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| Initial share prices: | $29.99 for AT&T, $35.73 for Energy Select Sector
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| Coupon barrier prices: | $23.992 for AT&T., $28.584 for Energy Select Sector, 80% of initial levels
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| Final barrier values: | $20.993 for AT&T, $25.011 for Energy Select Sector, 70% of initial levels
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| Pricing date: | Aug. 27
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| Settlement date: | Sept. 1
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17328WDN5
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