By Tali Rackner
Norfolk, Va., Feb. 24 – Citigroup Global Markets Holdings Inc. priced $1.68 million of autocallable contingent coupon equity-linked securities due Feb. 26, 2018 linked to the common stock of Halliburton Co., 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 8.5% if Halliburton stock closes at or above the barrier price, 80% of the initial price, on the valuation date for that quarter.
The notes will be called at par of $1,000 plus the contingent coupon if Halliburton shares close at or above the initial share price on any valuation date from May 2017 to November 2017.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 80% barrier level, in which case investors receive a number of Halliburton shares equal to $1,000 divided by the initial share price or, at the company’s option, the cash equivalent.
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 stock: | Halliburton Co.
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| Amount: | $1,682,000
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| Maturity: | Feb. 26, 2018
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| Coupon: | 8.5% per year, payable quarterly if closing price of Halliburton shares is greater than or equal to barrier price on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless Halliburton shares finish below barrier price, in which case investors receive a number of shares equal to $1,000 divided by the initial share price or the cash equivalent
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| Call: | At par plus contingent coupon if closing share price is greater than or equal to initial share price on any valuation date from May 2017 to November 2017
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| Initial share price: | $53.84
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| Barrier price: | $43.072, 80% of initial share price
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17324XAZ3
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