By Wendy Van Sickle
Columbus, Ohio, June 7 – Citigroup Global Markets Holdings Inc. priced $2.09 million of autocallable contingent coupon equity-linked securities due June 8, 2021 tied to the common stocks of 3M Co. and General Mills, 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 9% if each stock closes at or above its 65% coupon barrier price on the review date for that quarter.
The notes will be automatically redeemed at par plus interest if each stock closes at or above its initial price on any potential redemption date beginning in November.
If the notes are not called and the final price of each stock is at least 65% of its initial price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the lesser-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: | 3M Co. and General Mills, Inc.
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| Amount: | $2.09 million
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| Maturity: | June 8, 2021
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| Coupon: | 9% annualized, payable quarterly if each stock closes at or above coupon barrier price on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par if each stock’s final price is at least 65% of initial price; otherwise, full exposure to decline of lesser-performing stock
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| Call: | At par plus interest if each stock closes at or above initial price on any potential redemption date beginning in November
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| Initial prices: | $195.74 for 3M, $42.48 for General Mills
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| Coupon barriers/final barriers: | $127.231 for 3M, $27.612 for General Mills; 65% of initial prices
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| Pricing date: | May 29
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| Settlement date: | May 31
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17324XHW3
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