By Angela McDaniels
Tacoma, Wash., May 27 – Citigroup Global Markets Holdings Inc. priced $971,000 of autocallable contingent coupon equity-linked securities due Dec. 1, 2017 linked to the class A common stock of Facebook Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at an annualized rate of 7.25% if Facebook stock closes at or above the barrier price, 80% of the initial price, on the valuation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if Facebook shares close at or above the initial share price on any quarterly valuation date other than the final one.
If the final share price is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will receive a number of Facebook shares equal to $1,000 divided by the initial share price or, at the issuer's option, an amount in cash equal to the value of those shares.
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. (Nasdaq: FB)
|
| Amount: | $971,000
|
| Maturity: | Dec. 1, 2017
|
| Coupon: | 7.25% per year, payable quarterly if Facebook stock closes at or above barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to barrier price, par plus contingent coupon; otherwise, 8.49618 Facebook shares or, at issuer's option, amount in cash equal to value of those shares
|
| Call: | Automatically at par plus contingent coupon if Facebook shares close at or above initial share price on any quarterly valuation date other than final one
|
| Initial share price: | $117.70
|
| Barrier price: | $94.16, 80% of initial share price
|
| Pricing date: | May 24
|
| Settlement date: | May 27
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17324C3L8
|
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