By Wendy Van Sickle
Columbus, Ohio, June 1 – Citigroup Global Markets Holdings Inc. priced $1.5 million of autocallable contingent coupon equity-linked securities due June 1, 2017 linked to Halliburton Co. 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 9% if Halliburton stock closes at or above the coupon barrier level, 75% of the initial level, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if Halliburton shares close at or above the initial share price on any quarterly valuation date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 75% barrier level, in which case investors receive a number of Halliburton shares equal to $1,000 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.
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Guarantor: | Citigroup Inc.
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Issue: | Autocallable contingent coupon equity-linked securities
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Underlying stock: | Halliburton Co.
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Amount: | $1.5 million
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Maturity: | June 1, 2017
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Coupon: | 9% per year, payable quarterly if Halliburton shares close 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, Halliburton shares equal to $1,000 divided by initial share price or, at issuer’s option, cash equivalent
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Call: | At par plus contingent coupon if Halliburton shares close at or above initial share price on any quarterly valuation date
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Initial share price: | $42.64
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Barrier: | $31.98, 75% of initial share price
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Pricing date: | May 26
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Settlement date: | June 1
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.25%
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Cusip: | 17324C3J3
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