By Wendy Van Sickle
Columbus, Ohio, June 9 – Citigroup Global Markets Holdings Inc. priced $1.58 million of autocallable contingent coupon equity linked securities due May 18, 2023 linked to Citrix Systems, Inc., Intercontinental Exchange, Inc. and Overstock.com, Inc. shares, 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 29.75% if each stock closes at or above the barrier price, 60% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly redemption date after six months.
If the notes are not called and the final share price of each stock is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline in the share price of the least performing stock, payable in shares of the laggard stock.
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 stocks: | Citrix Systems, Inc., Intercontinental Exchange, Inc. and Overstock.com, Inc.
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| Amount: | $1.58 million
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| Maturity: | May 18, 2023
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| Coupon: | 29.75% per year, payable quarterly if closing price of each stock 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 any stock finishes below barrier price, in which case full exposure to loss of least-performing stock payable in shares of that stock
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| Call: | At par plus contingent coupon if closing share price of each stock is greater than or equal to initial share price on any quarterly redemption date after six months
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| Initial share prices: | $117.71 for Citrix, $113.26 for Intercontinental Exchange and $71.14 for Overstock
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| Barrier prices: | $70.626 for Citrix, $67.956 for Intercontinental Exchange and $42.684 for Overstock; 60% of initial share prices
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| Pricing date: | May 14
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| Settlement date: | May 19
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17328NRA8
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