By Wendy Van Sickle
Columbus, Ohio, May 22 – Citigroup Global Markets Holdings Inc. priced $9.39 million of contingent income autocallable securities due May 23, 2019 linked to the common stock of Alibaba Group Holding Ltd., 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 11.5% if the stock closes at or above the 80% downside threshold level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any valuation date other than the final date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 80% downside threshold, in which case investors will lose 1% for each 1% decline of the stock.
Citigroup Global Markets Inc. is the underwriter with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Alibaba Group Holding Ltd.
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| Amount: | $9,390,330
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| Maturity: | May 23, 2019
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| Coupon: | 11.5% per year, payable each quarter that stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, full exposure to decline
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| Call: | At par plus contingent coupon if stock closes at or above initial level on any valuation date other than the final date
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| Initial share price: | $195.00
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| Downside threshold: | $156.00, 80% of initial level
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| Pricing date: | May 18
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| Settlement date: | May 23
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| Agent: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as dealer
|
| Fees: | 1.75%
|
| Cusip: | 17326K122
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