By William Gullotti
Buffalo, N.Y., Dec. 13 – Citigroup Global Markets Holdings Inc. priced $2.5 million of callable contingent coupon equity-linked securities due May 9, 2024 linked to the common stock of DexCom, 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 a rate of 14.94% per year, or approximately 6.218% for the term, if the stock closes at or above the coupon barrier price, 66.75% of the initial price, on the valuation date for that period.
The notes may be called at par plus any coupon due on any quarterly valuation date.
If the notes are not called and the final share price is greater than or equal to the 66.75% final barrier price, the payout at maturity will be par plus final coupon.
Otherwise, investors will lose 1% for each 1% that the stock’s final share price is less than its initial price.
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: | Callable contingent coupon equity-linked securities
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| Underlying stock: | DexCom, Inc.
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| Amount: | $2.5 million
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| Maturity: | May 9, 2024
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| Coupon: | 14.94% annually, or approximately 6.218% for the term, payable quarterly, if stock closes at or above coupon barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If notes are not called and final share price is greater than or equal to final barrier price, par plus final coupon; otherwise, full exposure to decline in the stock
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| Call option: | At par plus any coupon due on any quarterly valuation date
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| Initial share price: | $116.62
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| Coupon barrier price: | $77.844; 66.75% of initial price
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| Final barrier price: | $77.844; 66.75% of initial price
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| Pricing date: | Dec. 1
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| Settlement date: | Dec. 6
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17291T6K9
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