By William Gullotti
Buffalo, N.Y., May 10 – Citigroup Global Markets Holdings Inc. priced $680,000 of autocallable contingent coupon equity-linked securities due April 24, 2023 linked to the common stock of 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 annual rate of 7% if the underlying stock closes at or above its coupon barrier price, 80% of its initial share 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 coupon if the underlying stock closes at or above its initial share price on any quarterly autocall date.
If the notes are not called and the underlying stock finishes at or above its final barrier price, 80% of its initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the losses of underlying stock, payable in shares or cash at the issuer’s option.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stock: | Facebook, Inc.
|
| Amount: | $680,000
|
| Maturity: | April 24, 2023
|
| Coupon: | 7% annualized rate, payable quarterly if underlying 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: | Par plus contingent coupon if underlying stock closes at or above final barrier price; otherwise, full exposure to losses
|
| Call: | Automatically at par plus coupon if underlying stock closes at or above initial level on any quarterly valuation date
|
| Initial share price: | $302.24
|
| Coupon barrier price: | $241.792, 80% of initial share price
|
| Final barrier price: | $241.792, 80% of initial share price
|
| Pricing date: | April 19
|
| Settlement date: | April 22
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17328NMF2
|
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