By Wendy Van Sickle
Columbus, Ohio, Sept. 7 – Citigroup Global Markets Holdings Inc. priced $4 million of autocallable contingent coupon equity notes due Sept. 8, 2022 linked to the Euro Stoxx 50 index, the Russell 2000 index and the iShares MSCI Emerging Markets exchange-traded fund, 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 the rate of 8.35% per year if each underlier closes at or above its barrier, 70% of its initial level, on the observation date for that quarter.
Beginning in August 2018, the notes will be automatically called at par if each underlier closes at or above its initial level on any coupon determination date.
The payout at maturity will be par unless any of the underliers closes below the barrier, in which case investors will be fully exposed to the decline of the least-performing underlier from its initial level.
Citigroup Global Markets Holdings 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 assets: | Euro Stoxx 50 index, Russell 2000 index and iShares MSCI Emerging Markets exchange-traded fund
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| Amount: | $4 million
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| Maturity: | Sept. 8, 2022
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| Coupon: | 8.35% per year, payable quarterly if each underlier closes at or above barrier on determination date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any underlier falls by more than 30%, in which case full exposure to losses of worst performing underlier
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| Call: | At par if each underlier closes at or above its initial level any quarterly valuation date starting in August 2018
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| Initial levels: | 1,391.324 for Russell, 3,403.71 for Stoxx and $44.76 for ETF
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| Barrier levels: | 973.927 for Russell, 2,382.597 for Stoxx and $31.332 for ETF; 70% of initial levels
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 6
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| Underwriter: | Citigroup Global Markets Holdings Inc.
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| Fees: | 2.85%
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| Cusip: | 17324CMC7
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