By Wendy Van Sickle
Columbus, Ohio, Oct. 20 – Citigroup Global Markets Holdings Inc. priced $1.8 million of autocallable contingent coupon equity-linked securities due Oct. 26, 2020 linked to the least performing of the common stocks of Procter & Gamble Co., Kimberly-Clark Corp. and Starbucks Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 7.9% if each stock closes at or above its coupon barrier, 70% of its initial price, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly review date from April 2018 until July 2020.
The payout at maturity will be par plus the contingent coupon unless any stock finishes below its 70% barrier level, in which case investors will be fully exposed to the decline of the worst performing stock.
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: | Procter & Gamble Co., Kimberly-Clark Corp. and Starbucks Corp.
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| Amount: | $1.8 million
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| Maturity: | Oct. 26, 2020
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| Coupon: | 7.9% per year, payable quarterly if each stock closes at or above coupon barrier on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above barrier price, par plus contingent coupon; otherwise, investors will be fully exposed to the decline of the worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly review date from April 2018 until July 2020
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| Initial share prices: | $92.77 for Procter & Gamble, $117.30 for Kimberly-Clark and $55 .21 for Starbucks
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| Barrier prices: | $64.939 for Procter & Gamble $82.11 for Kimberly-Clark and $38.647 for Starbucks; 70% of initial share prices
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| Pricing date: | Oct. 18
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| Settlement date: | Oct. 23
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.35%
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| Cusip: | 17324CNC6
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