By Sarah Lizee
Olympia, Wash., June 4 – Citigroup Global Markets Holdings Inc. priced $1.26 million of autocallable contingent coupon equity-linked securities due June 6, 2022 linked to the least performing of the common stocks of Tesla Inc. and Sysco Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 29% per year if the least-performing stock closes at or above its coupon barrier value, 80% of its initial share price, on the valuation date for that month. The coupon payment will be supplemented by any previously unpaid coupons.
The notes will be automatically called at par if the least-performing stock closes at or above its initial price on any quarterly call valuation date after six months.
The payout at maturity will be par unless the least-performing stock finishes below its final barrier value, 60% of its initial share price, in which case investors will be fully exposed to the decline of the lesser-performing stock.
The notes are guaranteed by Citigroup Inc.
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: | Tesla Inc. and Sysco Corp.
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Amount: | $1,215,000
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Maturity: | June 6, 2022
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Coupon: | 29% per year, payable monthly if least-performing stock closes at or above coupon barrier value on valuation date for that month; previously unpaid coupons are also paid
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Price: | Par
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Payout at maturity: | Par unless least-performing stock finishes below final barrier value, in which full exposure to decline of lesser-performing stock
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Call: | Automatically at par if the least-performing stock closes at or above its initial price on any quarterly call valuation date after six months
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Initial share prices: | $898.10 for Tesla, $57.18 for Sysco
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Coupon barriers: | $718.48 for Tesla, $45.744 for Sysco, or 80% of initial share prices
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Barrier values: | $538.86 for Tesla, $34.308 for Sysco, or 60% of initial share prices
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Pricing date: | June 1
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Settlement date: | June 4
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17324XZZ6
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