By Marisa Wong
Morgantown, W.Va., March 19 – Citigroup Global Markets Holdings Inc. priced $3.5 million of autocallable phoenix securities due March 18, 2020 linked to the common stock of Activision Blizzard, Inc., 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 16.55% if the stock closes at or above its 70% coupon barrier on the related quarterly observation date.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on any quarterly valuation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the stock finishes below the 70% barrier, in which case investors will be fully exposed to the share price decline.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable phoenix securities
|
| Underlying stock: | Activision Blizzard, Inc. (Symbol: ATVI)
|
| Amount: | $3.5 million
|
| Maturity: | March 18, 2020
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| Coupon: | 16.55% annualized, payable each quarter that stock closes at or above coupon barrier on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless the stock finishes below final barrier, in which full exposure to losses
|
| Call: | At par plus contingent coupon if stock closes at or above initial price on any quarterly valuation date
|
| Initial share price: | $42.14
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| Coupon barrier: | $29.50, 70% of initial price
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| Final barrier: | $29.50, 70% of initial price
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| Final price: | Average of closing share prices on five trading days ending March 13, 2020
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| Strike date: | Feb. 28
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| Pricing date: | March 1
|
| Settlement date: | March 6
|
| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.55%
|
| Cusip: | 17326Y2X3
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