By Wendy Van Sickle
Columbus, Ohio, July 2 – Citigroup Global Markets Holdings Inc. priced $553,000 of autocallable contingent coupon equity-linked securities due June 29, 2023 linked to the common stocks of Caterpillar Inc., Nucor Corp. and Vulcan Materials Co., 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 annual rate of 25% if all the stocks close at or above the barrier level, 70% of the initial level, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above the initial share price on any quarterly redemption date after one year.
The payout at maturity will be par plus the contingent coupon unless any stock finishes below the 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing stock.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Caterpillar Inc., Nucor Corp. and Vulcan Materials Co.
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| Amount: | $553,000
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| Maturity: | June 29, 2023
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| Coupon: | 25% per year, payable quarterly if all stocks close at or above barrier level on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | If final price of each stock is greater than or equal to barrier level, par plus final coupon; otherwise, 1% loss for each 1% decline of worst-performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial share price on any quarterly valuation date after one year
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| Initial share prices: | $126.25 for Caterpillar, $42.22 for Nucor, $119.64 for Vulcan
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| Barrier levels: | $88.375 for Caterpillar, $29.554 for Nucor, $83.748 for Vulcan, 70% of initial share prices
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| Pricing date: | June 24
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| Settlement date: | June 29
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17328VYZ7
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