By Angela McDaniels
Tacoma, Wash., Sept. 30 – Citigroup Global Markets Holdings Inc. priced $3.62 million of autocallable contingent coupon equity-linked securities due Oct. 2, 2018 linked to the worst performing of the shares of Baker Hughes Inc., Biogen Inc. and Michael Kors Holdings Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each month, the notes pay a contingent coupon at an annualized rate of 9.5% if the worst-performing stock closes at or above its barrier price, 50% of its initial share price, on the valuation date for that month.
The notes will be automatically called at par plus the contingent coupon if the worst-performing stock closes at or above its initial share price on any potential redemption date, which occur quarterly.
If the final share price of the worst-performing stock is greater than or equal to its barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the worst-performing stock’s decline from its initial share price.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying shares: | Baker Hughes Inc. (NYSE: BHI), Biogen Inc. (Nasdaq: BIIB) and Michael Kors Holdings Ltd. (NYSE: KORS)
|
| Amount: | $3,623,000
|
| Maturity: | Oct. 2, 2018
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| Coupon: | 9.5% per year, payable monthly if worst-performing stock closes at or above barrier price on valuation date for that month
|
| Price: | Par
|
| Payout at maturity: | If final share price of worst-performing stock is greater than or equal to barrier price, par plus contingent coupon; otherwise, exposure to worst-performing stock’s decline from initial share price
|
| Call: | Automatically at par plus contingent coupon if worst-performing stock closes at or above initial share price on any potential redemption date, which occur quarterly
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| Initial share prices: | $314.53 for Biogen, $48.06 for Baker Hughes and $48.17 for Michael Kors
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| Barrier prices: | $157.265 for Biogen, $24.03 for Baker Hughes and $24.085 for Michael Kors; 50% of initial share prices
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| Pricing date: | Sept. 27
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| Settlement date: | Sept. 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.35%
|
| Cusip: | 17324CAR7
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