By Wendy Van Sickle
Columbus, Ohio, June 27 – Citigroup Global Markets Holdings Inc. priced $925,000 of autocallable contingent coupon equity-linked securities due June 29, 2020 tied to the common stocks of Walmart Inc. and Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 8.5% per year, payable quarterly if each stock closes above its coupon barrier, 77% 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.
If the notes are not called and the final price each stock is at least 77% of its initial price, the payout at maturity will be par. Otherwise, investors will receive a fixed number of underlying shares of the worst performing underlying equal to its equity ratio, or the cash 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: | Walmart Inc. and Home Depot, Inc.
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| Amount: | $925,000
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| Maturity: | June 29, 2020
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| Coupon: | 8.5%, payable quarterly if stocks close above coupon barrier on observation date
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| Price: | Par of $5,000
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| Payout at maturity: | Par if each stock’s final price is at least 77% of initial price; otherwise, investors will receive a fixed number of underlying shares of the worst performing underlying equal to its equity ratio, or the cash 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
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| Initial prices: | $111.24 for Walmart, $205.50 for Home Depot
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| Coupon barriers: | $85.655 for Walmart, $158.235 for Home Depot; 77% of initial prices
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| Equity ratios: | 8.98957 for Walmart, 4.86618 for Home Depot
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| Pricing date: | June 24
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| Settlement date: | June 27
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324XNY2
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