By Wendy Van Sickle
Columbus, Ohio, April 9 – Citigroup Global Markets Holdings Inc. priced $2.1 million of autocallable contingent coupon equity-linked securities due April 1, 2020 linked to the common stock of Wells Fargo & Co. and the American Depository Shares of HSBC Holdings plc, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each stock closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless either stock finishes below its 75% barrier level, in which case the payout will be par plus the return of the worse performing stock with full exposure to any losses.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying asset: | Wells Fargo & Co., HSBC Holdings plc
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| Amount: | $2,098,000
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| Maturity: | April 1, 2020
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| Coupon: | 8% annualized, payable quarterly if each stock closes at or above its coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock finishes below barrier, in which case par plus return of worse performing stock
|
| Call: | At par if each stock closes at or above its initial price on any quarterly call observation date
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| Initial levels: | $51.10 for Wells, $47.61for HSBC
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| Barrier levels: | $38.325 for Wells, $35.708 for HSBC, 75% of initial levels
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| Pricing date: | March 27
|
| Settlement date: | April 2
|
| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
|
| Cusip: | 17324XGF1
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