By Devika Patel
Knoxville, Tenn., Sept. 16 – Citigroup Global Markets Holdings Inc. priced $2.44 million of autocallable contingent coupon equity-linked securities due March 15, 2018 linked to Facebook, Inc. class A common shares, 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 7.5% 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 starting on Dec. 12, 2016.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 80% barrier level, in which case investors will receive a number of Facebook shares equal to the principal 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stock: | Facebook Inc.
|
| Amount: | $2,435,000
|
| Maturity: | March 15, 2018
|
| Coupon: | 7.5% per year, payable quarterly if Facebook shares close at or above barrier level on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to barrier level, par plus final coupon; otherwise, a number of Facebook shares equal to the principal divided by the initial share price, or, at issuer’s option, cash equivalent
|
| Call: | At par plus contingent coupon if Facebook shares close at or above initial share price on any quarterly valuation date starting on Dec. 12, 2016
|
| Initial share price: | $128.69
|
| Barrier: | $102.952, 80% of initial share price
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| Pricing date: | Sept. 12
|
| Settlement date: | Sept. 15
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.25%
|
| Cusip: | 17324CAD8
|
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