By Taylor Fox
New York, Oct. 26 – Citigroup Global Markets Holdings Inc. priced $4.64 million of autocallable contingent coupon equity-linked securities due Sept. 28, 2021 linked to the worst performing of the stocks of Amazon.com, Inc. and Facebook, 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 annualized rate of 10% if the stocks close at or above the barrier price, 62% of the initial price, on the valuation date for that period. Coupon payments will include previously unpaid coupons.
The notes will be automatically called at par of $5,000 plus the contingent coupon if both stocks close at or above the initial share prices on any quarterly valuation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the shares of the worst performer finish below the 62% final barrier level, in which case investors will receive a number of shares equal to the principal divided by the initial share price of the worst performer, 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
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| Underlying stocks: | Amazon.com, Inc. and Facebook, Inc.
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| Amount: | $4,635,000
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| Maturity: | Sept. 28, 2021
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| Coupon: | 10% per year, payable quarterly if closing price of both stocks is greater than or equal to barrier price on valuation date for that period; includes previously unpaid coupons
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| Price: | Par of $5,000
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| Payout at maturity: | Par plus final coupon unless shares of either stock finish below final barrier level, in which case, number of shares of worst performer equal to principal divided by initial share price or cash equivalent
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| Call: | At par plus contingent coupon if closing share prices are greater than or equal to initial share prices on any quarterly valuation date
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| Initial share prices: | $2,999.86 for Amazon and $249.02 for Facebook
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| Coupon/barrier prices: | $1,859.913 for Amazon and $154.392 for Facebook, 62% of initial levels
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| Equity ratios: | 1.66674 for Amazon and 20.07871 for Facebook
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| Pricing date: | Sept. 23
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| Settlement date: | Sept. 28
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324XY87
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