By Kiku Steinfeld
Chicago, Sept. 8 – Citigroup Global Markets Holdings Inc. priced $1 million of autocallable contingent coupon equity-linked securities due Sept. 1, 2021 linked to the common stock of Visa Inc. and the common stock of Walt Disney 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 14.06% if both stocks close at or above the barrier level, 80% of the initial level, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if both stocks close at or above the initial share price on any quarterly redemption date.
The payout at maturity will be par plus the contingent coupon unless either stock finishes below the 80% barrier level, in which case investors will lose 1% for each 1% decline of the worse performing 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: | Walt Disney Co. and Visa Inc.
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| Amount: | $1 million
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| Maturity: | Sept. 1, 2021
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| Coupon: | 14.06% per year, payable quarterly if both 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 worse-performing stock
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| Call: | At par plus contingent coupon if both stocks close at or above initial share price on any quarterly valuation date
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| Initial share prices: | $211.03 for Visa, $133.73 for Disney
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| Barrier levels: | $168.824 for Visa, $106.984 for Disney, 80% of initial share prices
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| Pricing date: | Aug. 27
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| Settlement date: | Sept. 1
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324X2Q2
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