By Kiku Steinfeld
Chicago, Jan. 30 – Citigroup Global Markets Holdings Inc. priced $211,000 of autocallable contingent coupon equity-linked securities due July 30, 2021 linked to the stocks of Corning Inc., salesforce.com, inc. and Take-Two Interactive Software, Inc. according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If each stock closes at or above its coupon barrier price, 60% of its initial price, on the valuation date for that quarter, the notes will pay a contingent quarterly coupon at an annual rate of 9.5% plus any previously unpaid contingent coupon payments.
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 valuation date other than the final one.
If the notes are not called and each stock finishes at or above final barrier price, 60% of its initial level, the payout at maturity will be par plus the final contingent coupon.
Otherwise, investors will receive stock of the worst performer equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent of those shares.
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: | Corning Inc., salesforce.com, inc. and Take-Two Interactive Software, Inc.
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| Amount: | $211,000
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| Maturity: | July 30, 2021
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| Coupon: | Payable quarterly at an annual rate of 9.5% plus any previously unpaid contingent coupon payments if each stock closes at or above its coupon barrier on valuation date
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| Price: | Par
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| Payout at maturity: | Par plus final contingent coupon if each stock closes at or above final barrier; otherwise a number of shares of worst performer equal to principal amount divided by initial share price of worst performing stock or, at issuer’s option, cash equivalent
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial level on any quarterly valuation date other than final one
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| Initial share prices: | $29.65 for Corning, $182.75 for salesforce.com, $130.11 for Take-Two
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| Coupon barrier prices: | $17.790 for Corning, $109.650 for salesforce.com, $78.066 for Take-Two, 60% of initial levels
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| Final barrier prices: | $17.790 for Corning, $109.650 for salesforce.com, $78.066 for Take-Two, 60% of initial levels
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| Pricing date: | Jan. 23
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| Settlement date: | Jan. 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17324XVC1
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