By Kiku Steinfeld
Chicago, Aug. 6 – Citigroup Global Markets Holdings Inc. priced $2.43 million of autocallable contingent coupon equity-linked securities due July 21, 2022 linked to Electronic Arts Inc. and Activision Blizzard, Inc. shares, 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 annualized rate of 9% if each stock closes at or above the barrier price, 50% of the initial price, on the valuation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly autocall date after six months.
If the notes are not called and the final share price of each stock is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline in the share price of the worse performing stock.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Electronic Arts Inc. and Activision Blizzard, Inc.
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| Amount: | $2,425,000
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| Maturity: | July 21, 2022
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| Coupon: | 9% per year, payable quarterly if closing price of each stock is greater than or equal to barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if final share price for each stock closes above 50% barrier price; otherwise full exposure to decline of worst performing stock
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| Call: | At par plus contingent coupon if closing share price of each stock is greater than or equal to initial share price on any quarterly autocall date after six months
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| Initial share prices: | $89.55 for Electronic Arts, $46.99 for Activision Blizzard
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| Barrier prices: | $44.775 for Electronic Arts, $23.495 for Activision Blizzard, 50% of initial share prices
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| Pricing date: | July 16
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| Settlement date: | July 19
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17327TVP8
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