By Wendy Van Sickle
Columbus, Ohio, Oct. 10 – Citigroup Global Markets Holdings Inc. priced $2.83 million of autocallable contingent coupon equity-linked securities due Oct. 8, 2020 linked to the common stock of FedEx Corp., 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 annualized rate of 11% if FedEx stock closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the stock close at or above the initial share price on any valuation date.
If the notes are not called and the final share price is greater than or equal to the 70% final barrier price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be exposed to the decline in the share price with the payout made in shares of the underlying stock or cash at the company’s option.
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: | FedEx Corp.
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| Amount: | $2,825,000
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| Maturity: | Oct. 8, 2020
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| Coupon: | 11% yearly, payable quarterly, if stock closes at or above coupon barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If notes are not called and final share price is greater than or equal to final barrier price, par plus the final coupon; otherwise, exposure to loss paid in shares of underlying or cash at issuer’s option
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| Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any valuation date
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| Initial share price: | $143.00
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| Coupon barrier price: | $100.10, 70% of initial level
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| Final barrier price: | $100.10, 70% of initial level
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| Pricing date: | Oct. 4
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| Settlement date: | Oct. 9
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324XTV2
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