By Angela McDaniels
Tacoma, Wash., July 8 – Citigroup Global Markets Holdings Inc. priced $1.09 million of autocallable contingent coupon equity-linked securities due June 30, 2022 linked to the least performing of the common stocks of Qualcomm Inc., Nvidia Corp. and Square, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 18% per year if the least-performing stock closes at or above its final barrier value, 55% of its initial share price, on the valuation date for that quarter.
Beginning in September, the notes will be automatically called at par if the least-performing stock closes at or above its initial share price on any quarterly potential redemption date.
The payout at maturity will be par unless the least-performing stock finishes below its final barrier value, in which case the payout will be a number of shares of the least-performing stock equal to $1,000 divided by that stock’s initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
The notes are guaranteed by Citigroup Inc.
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: | Qualcomm Inc. (Nasdaq: QCOM), Nvidia Corp. (Nasdaq: NVDA) and Square, Inc. (NYSE: SQ)
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| Amount: | $1.09 million
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| Maturity: | June 30, 2022
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| Coupon: | 18% per year, payable quarterly if least-performing stock closes at or above final barrier value on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless least-performing stock finishes below final barrier value, in which case number of shares of least-performing stock equal to $1,000 divided by that stock’s initial share price or, at issuer’s option, amount in cash equal to value of those shares
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| Call: | Beginning in September, notes will be automatically called at par if least-performing stock closes at or above initial share price on any quarterly potential redemption date
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| Initial share prices: | $72.55 for Qualcomm, $151.48 for Nvidia and $69.87 for Square
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| Final barrier values: | $39.903 for Qualcomm, $83.314 for Nvidia and $38.429 for Square, or 55% of initial share prices
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| Pricing date: | June 25
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| Settlement date: | June 28
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17324XNQ9
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