By Sarah Lizee
Olympia, Wash., May 31 – Citigroup Global Markets Holdings Inc. priced $1.8 million of autocallable contingent coupon equity-linked securities due May 27, 2021 tied to the common stocks of Lululemon Athletica Inc., Qualcomm Inc. and Zions Bancorporation, NA, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 17% per year, payable quarterly if each stock closes above its coupon barrier, 60% of its initial level, on the observation date for that period.
The notes will be automatically redeemed at par plus interest if the worst-performing stock closes at or above its initial price on any quarterly autocall date after six months.
If the notes are not called and the final price each stock is at least 60% of its initial price, the payout at maturity will be par. Otherwise, investors will receive a number of shares of the least performing stock equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
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: | Lululemon Athletica Inc., Qualcomm Inc. and Zions Bancorporation, NA
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| Amount: | $1.8 million
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| Maturity: | May 27, 2021
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| Coupon: | 17%, payable quarterly if stocks close above coupon barrier on observation date
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| Price: | Par
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| Payout at maturity: | Par if each stock’s final price is at least 60% of initial price; otherwise, a number of shares of the least performing stock equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares
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| Call: | At par plus interest if the worst-performing stock closes at or above initial price on any quarterly autocall date after six months
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| Initial prices: | $103.668 for Lululemon, $66.21 for Qualcomm, $45.34 for Zions
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| Downside thresholds: | $103.668 for Lululemon, $39.726 for Qualcomm, $27.204 for Zions; 60% of initial prices
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| Pricing date: | May 24
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| Settlement date: | May 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17324XPH7
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