By Wendy Van Sickle
Columbus, Ohio, Aug. 18 – Citigroup Global Markets Holdings Inc. priced $1 million of autocallable contingent coupon equity-linked securities due Aug. 21, 2017 linked to the common stocks of Phillips 66 and Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 17.08% if each 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 of $1,000 plus the contingent coupon if both stocks close at or above their initial share prices on any valuation date other than the final one.
If the final share price of each stock 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 shares of the lesser-performing stock equal to $1,000 divided by the initial share price or, at the company’s option, the cash equivalent.
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: | Phillips 66 and Ford Motor Co.
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| Amount: | $1 million
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| Maturity: | Aug. 21, 2017
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| Coupon: | 17.08% per year, payable quarterly if each stock closes at or above barrier level on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to barrier level, par plus final coupon; otherwise, shares of lesser performing stock or, at issuer’s option, cash equivalent
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| Call: | At par plus contingent coupon if each stock closes at or above initial share price on any quarterly valuation date
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| Initial share prices: | $77.98 for Phillips 66, $12.34 for Ford
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| Barrier: | $62.384 for Phillips 66, $9.872 for Ford, 80% of initial share price
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| Pricing date: | Aug. 16
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| Settlement date: | Aug. 19
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324CA97
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