By Taylor Fox
New York, Aug. 25 – Citigroup Global Markets Holdings Inc. priced $1.03 million of autocallable contingent coupon equity-linked securities due Feb. 11, 2022 linked to the worst performing of the stocks of Apple Inc. and the 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 9.9% if each stock closes at or above its coupon barrier price, 65% of its initial share price, on the valuation date for that quarter. Previously unpaid coupons will also be paid.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial share price on any quarterly valuation date.
If the notes are not called and each stock finishes at or above its final barrier price, 65% of its initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the losses of the worst performer, payable in shares or cash at the issuer’s option.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Apple Inc. and the Walt Disney Co.
|
| Amount: | $1,025,000
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| Maturity: | Feb. 11, 2022
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| Coupon: | 9.9% annualized rate, payable quarterly if each stock closes at or above coupon barrier price on valuation date for that quarter; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each stock closes at or above final barrier price; otherwise, full exposure to losses of worst performer, payable in either shares or cash at the issuer’s option
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly valuation date
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| Initial share prices: | $136.76 for Apple and $181.16 for Disney
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| Coupon barrier prices: | $88.894 for Apple and $117.754 for Disney, 65% of initial share prices
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| Final barrier prices: | $88.894 for Apple and $117.754 for Disney, 65% of initial share prices
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| Pricing date: | Feb. 5
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| Settlement date: | Feb. 8
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
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| Cusip: | 17328NDJ4
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