By Susanna Moon
Chicago, Sept. 19 – Citigroup Global Markets Holdings Inc. priced $1 million of autocallable contingent coupon equity-linked securities due Sept. 18, 2017 linked to the common stocks of Walt Disney Co. and Valero Energy Corp., 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 17.1% if each stock closes at or above the coupon barrier level, 80% of the initial level, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above the initial share price on any quarterly valuation date from December until June 2017.
The payout at maturity will be par plus the contingent coupon unless either stock finishes below its 80% barrier level, in which case investors will receive a number of shares of the worse performing stock equal to the principal divided by its 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 stocks: | Walt Disney Co. (NYSE: DIS) and Valero Energy Corp. (NYSE: VLO)
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| Amount: | $1 million
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| Maturity: | Sept. 18, 2017
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| Coupon: | 17.1% 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 each stock finishes at or above barrier level, par plus final coupon; otherwise, 10.78749 Disney shares or 18.06685 Valero shares, whichever is lower
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly valuation date from December until June 2017
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| Initial levels: | $92.70 for Disney, $55.35 for Valero
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| Barrier levels: | $74.16 for Disney, $44.28 for Valero; 80% of initial levels
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| Pricing date: | Sept. 13
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| Settlement date: | Sept. 16
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324CAT3 / US17324CAT36
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