By Sarah Lizee
Olympia, Wash., March 26 – Citigroup Global Markets Holdings Inc. priced $1.39 million of autocallable contingent coupon equity linked securities due March 25, 2022 linked to the worst performing of the shares of CVS Health Corp., Halliburton Co. and Spotify Technology SA, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Global Markets Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 15.6% if each stock closes at or above its 50% coupon barrier on the observation date for that period.
The notes are called at par if each stock closes at or above its initial level on any quarterly determination date beginning in March 2020.
The payout at maturity will be par unless any stock finishes below its 50% barrier level, in which case investors will be fully exposed to the decline of the worst performing stock from its initial level.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Global Markets Inc.
|
| Issue: | Autocallable contingent coupon equity linked securities
|
| Underlying stocks: | CVS Health Corp., Halliburton Co. and Spotify Technology SA
|
| Amount: | $1,385,000
|
| Maturity: | March 25, 2022
|
| Coupon: | 15.6% annualized, payable each quarter that each stock closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below its final barrier value, in which case investors will be fully exposed to the decline of the worst performing stock from its initial level
|
| Call: | At par if each stock closes at or above its initial price on any quarterly determination date beginning in March 2020
|
| Initial prices: | $56.04 for CVS, $28.73 for Halliburton, $139.00 for Spotify
|
| Coupon barriers: | $28.020 for CVS, $14.365 for Halliburton, $69.500 for Spotify; 50% of initial prices
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| Final barrier values: | $28.020 for CVS, $14.365 for Halliburton, $69.500 for Spotify; 50% of initial prices
|
| Pricing date: | March 22
|
| Settlement date: | March 29
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17326YAY2
|
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