By Wendy Van Sickle
Columbus, Ohio, April 21 – Citigroup Global Markets Holdings Inc. priced $1.62 million of autocallable contingent coupon securities due April 24, 2017 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 8.5% if Facebook stock closes at or above the coupon barrier level, 80% of the initial level, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if Facebook shares close at or above the initial share price on any quarterly valuation date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 80% trigger level, in which case investors receive a number of Facebook shares equal to $1,000 divided by the initial share price or, at the issuer’s option, 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 securities
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| Underlying stock: | Facebook, Inc.
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| Amount: | $1,621,000
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| Maturity: | April 24, 2017
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| Coupon: | 8.5% per year, payable quarterly if Facebook shares close at or above downside threshold level on valuation date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | If final share price is greater than or equal to trigger level, par plus final coupon; otherwise, Facebook shares equal to $1,000 divided by initial share price or, at issuer’s option, cash equivalent
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| Call: | At par plus contingent coupon if Facebook shares close at or above initial share price on any quarterly valuation date
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| Initial share price: | $112.29
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| Downside threshold: | $89.832, 80% of initial share price
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| Pricing date: | April 19
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| Settlement date: | April 22
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324C2R6
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