By Wendy Van Sickle
Columbus, Ohio, Feb. 20 – Citigroup Global Markets Holdings Inc. priced $10 million of 0% step down trigger autocallable notes due Feb. 12, 2020 linked to the lesser performing of the common stock of JPMorgan Chase & Co. and the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will be automatically called at par of $10 plus a 15.6% call premium if each stock closes at or above its initial level on any annual valuation date, aside from the final valuation date when the call level will be 75% of each stock’s initial level.
If the notes are not subject to an automatic call, then the final level of at least one stock will be less than its downside threshold, 75% of its initial level, and investors will lose 1% for each 1% decline of the lesser-performing stock from its initial level.
UBS Financial Services Inc. and Citigroup Global Markets Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Step down trigger autocallable notes
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| Underlying stocks: | JPMorgan Chase & Co. and Facebook, Inc.
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| Amount: | $10 million
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| Maturity: | Feb. 12, 2020
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Full exposure to decline of least-performing stock from initial level
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| Call: | At par plus 15.6% per year if each stock closes at or above its initial level on any annual valuation date, aside from the final valuation date when call level will be 75% of each stock’s initial level
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| Initial levels: | $112.87 for JPMorgan and $180.18 for Facebook
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| Downside thresholds: | $84.653 for JPMorgan and $135.135 for Facebook; 75% of initial levels
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| Pricing date: | Feb. 13
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| Settlement date: | Feb. 16
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| Underwriters: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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| Fees: | 1%
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| Cusip: | 17326E282
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