By Wendy Van Sickle
Columbus, Ohio, July 29 – Citigroup Global Markets Holdings Inc. priced $3.06 million of autocallable contingent coupon equity-linked securities due July 29, 2020 tied to the common stocks of Alphabet Inc. and Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 8% per year, payable quarterly if each stock closes above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be automatically redeemed at par plus interest if the worst-performing stock closes at or above its initial price on any quarterly autocall date.
If the notes are not called and the final price each stock is at least 70% of its initial price, the payout at maturity will be par. Otherwise, investors will receive a fixed number of underlying shares of the worst performing underlying on the final valuation date equal to its equity ratio.
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 equity-linked securities
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| Underlying stocks: | Alphabet Inc. and Facebook, Inc.
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| Amount: | $3,055,000
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| Maturity: | July 29, 2020
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| Coupon: | 8%, payable quarterly if stocks close above coupon barrier on observation date
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| Price: | Par
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| Payout at maturity: | Par if each stock’s final price is at least 70% of initial price; otherwise, investors will receive a fixed number of underlying shares of the worst performing underlying on the final valuation date equal to its equity ratio
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| Call: | At par plus interest if the worst-performing stock closes at or above initial price on any quarterly autocall date
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| Initial prices: | $1,139.73 for Alphabet, $204.66 for Facebook
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| Coupon barriers: | $797.811 for Alphabet, $143.262 for Facebook; 70% of initial prices
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| Final barriers: | $797.811 for Alphabet, $143.262 for Facebook; 70% of initial prices
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| Equity ratios: | 0.8774 for Alphabet, 4.88615 for Facebook
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| Pricing date: | July 24
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| Settlement date: | July 29
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324XPZ7
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