By Sarah Lizee
Olympia, Wash., July 1 – Citigroup Global Markets Holdings Inc. priced $1.62 million of autocallable contingent coupon equity-linked securities due Dec. 31, 2020 tied to the common stocks of Walt Disney Co. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 8.5% per year, payable quarterly if each stock closes above its coupon barrier, 75% of its initial level, on the observation date for that period.
The notes will be automatically redeemed at par plus interest if the worst-performing stock closes at or above its initial price on any quarterly autocall date.
If the notes are not called and the final price each stock is at least 75% of its initial price, the payout at maturity will be par. Otherwise, investors will receive a fixed number of underlying shares of the worst performing underlying equal to its equity ratio, or the cash value of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Walt Disney Co. and Walmart Inc.
|
| Amount: | $1,617,000
|
| Maturity: | Dec. 31, 2020
|
| Coupon: | 8.5%, payable quarterly if stocks close above coupon barrier on observation date
|
| Price: | Par
|
| Payout at maturity: | Par if each stock’s final price is at least 75% of initial price; otherwise, investors will receive a fixed number of underlying shares of the worst performing underlying equal to its equity ratio, or the cash value of those shares
|
| Call: | At par plus interest if the worst-performing stock closes at or above initial price on any quarterly autocall date
|
| Initial prices: | $140.40 for Disney, $110.16 for Walmart
|
| Coupon barriers: | $105.30 for Disney, $82.62 for Walmart; 75% of initial prices
|
| Equity ratios: | 7.12251 for Disney, 9.07771 for Walmart
|
| Pricing date: | June 26
|
| Settlement date: | July 1
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.25%
|
| Cusip: | 17324XPX2
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