By Wendy Van Sickle
Columbus, Ohio, July 3 – Citigroup Global Markets Holdings Inc. priced $2.2 million of autocallable contingent coupon equity-linked securities due June 30, 2022 tied to the common stocks of Home Depot, Inc. and Lowe’s Cos., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 8.2% per year, payable quarterly if each stock closes above its coupon barrier, 60% of its initial level, on the observation date for that period.
The notes will be automatically redeemed at par plus interest if the worst-performing stock closes at or above its initial price on any quarterly autocall date after six months.
If the notes are not called and the final price each stock is at least 60% 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.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Home Depot, Inc. and Lowe’s Cos., Inc.
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| Amount: | $2,197,000
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| Maturity: | June 30, 2022
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| Coupon: | 8.2%, payable quarterly if stocks close above coupon barrier on observation date
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| Price: | Par
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| Payout at maturity: | Par if each stock’s final price is at least 60% of initial price; otherwise, investors will be fully exposed to decline of lesser performing stock
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| Call: | At par plus interest if the worst-performing stock closes at or above initial price on any quarterly autocall date after six months
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| Initial prices: | $99.24 for Lowe’s, $206.42 for Home Depot
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| Coupon barriers: | $59.544 for Lowe’s, $123.852 for Home Depot; 60% of initial prices
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| Final barriers: | $59.544 for Lowe’s, $123.852 for Home Depot; 60% of initial prices
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| Pricing date: | June 26
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| Settlement date: | June 28
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17327TBH8
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