By Wendy Van Sickle
Columbus, Ohio, Nov. 16 – Citigroup Global Markets Holdings Inc. priced $1.79 million of autocallable contingent coupon equity-linked securities due Nov. 14, 2019 linked to the least performing of the common stocks of Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock closes at or above its coupon barrier, 70% of its initial price, on a quarterly observation date, the notes will pay a contingent coupon for that quarter at an annual rate of 8%.
The notes will be called at par if each stock closes at or above its initial price on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its 65% final barrier level, in which case investors will receive shares of the worst performing stock with full exposed to its decline.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
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: | Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co.
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Amount: | $1,785,000
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Maturity: | Nov. 14, 2019
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Coupon: | 8% per year, payable each quarter that each stock closes at or above its coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below final barrier, in which case shares of the worst performing stock with full exposure to the decline of its performance
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Call: | Automatically if each stock closes at or above its initial price on any quarterly observation date
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Initial prices: | $26.51 for Bank of America, $53.81 for Wells Fargo, $97.51 for JPMorgan
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Coupon barriers: | $18.557 for Bank of America, $37.667 for Wells Fargo, $68.257 for JPMorgan; 70% of initial prices
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Final barriers: | $17.232 for Bank of America, $34.977 for Wells Fargo, $63.382 for JPMorgan; 65% of initial prices
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Pricing date: | Nov. 10
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Settlement date: | Nov. 15
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3%
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Cusip: | 17324XGZ7
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