By Taylor Fox
New York, Oct. 22 – Citigroup Global Markets Holdings Inc. priced $2.68 million of contingent income autocallable securities due Sept. 21, 2023 linked to the worst performing of the common stock of Facebook, Inc. and Amazon.com, Inc., 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 10.6% if each stock closes at or above the 55% downside threshold level on the determination date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if both stocks close at or above its initial level on any valuation date other than the final date.
The payout at maturity will be par plus the final coupon unless either stock finishes below its 55% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing stock.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stocks: | Facebook, Inc. and Amazon.com, Inc.
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| Amount: | $2,684,000
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| Maturity: | Sept. 21, 2023
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| Coupon: | 10.6% per year, payable each quarter that each stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price of worst performer is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, full exposure to decline of worst performing stock
|
| Call: | At par plus contingent coupon if both stocks close at or above initial level on any valuation date other than the final date
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| Initial share prices: | $252.53 for Facebook and $2,954.91 for Amazon
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| Downside thresholds: | $138.892 for Facebook and $1,625.201 for Amazon, 55% of initial levels
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| Pricing date: | Sept. 18
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| Settlement date: | Sept. 23
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.5%
|
| Cusip: | 17327Y113
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