By Marisa Wong
Morgantown, W.Va., March 16 – Citigroup Global Markets Holdings Inc. priced $576,000 of autocallable contingent coupon equity-linked securities due March 19, 2019 linked to Valero Energy Corp. stock, 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 8% if the stock closes at or above its 80% coupon barrier on the related quarterly observation date.
The notes will be called at par if the stock closes at or above its initial level on any quarterly observation date prior to maturity.
The payout at maturity will be par unless the stock finishes below its 80% barrier level, in which case the payout will be a number of shares of Valero stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash value of those shares.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying asset: | Valero Energy Corp. (Symbol: VLO)
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| Amount: | $576,000
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| Maturity: | March 19, 2019
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| Coupon: | 8% annualized, payable each quarter that stock closes at or above its coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless stock finishes below barrier, in which case 10.79214 Valero shares or, at issuer’s option, cash value of those shares
|
| Call: | At par if stock closes at or above its initial price on any quarterly call observation date from June 2018 through December 2018
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| Initial price: | $92.66
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| Coupon barrier: | $74.128, 80% of initial price
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| Barrier: | $74.128, 80% of initial price
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| Pricing date: | March 14
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| Settlement date: | March 19
|
| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
|
| Cusip: | 17324XLV0
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