By Wendy Van Sickle
Columbus, Ohio, May 3 – Citigroup Global Markets Holdings Inc. priced $400,000 of autocallable contingent coupon equity-linked securities due May 3, 2019 linked to the common stock of Bank of America Corp., 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 annualized rate of 7% if Bank of America stock closes at or above the barrier price, 80% of the initial price, on the valuation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if Bank of America shares close at or above the initial share price on any valuation date.
If the notes are not called and the final share price is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline in the shares.
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 stock: | Bank of America Corp.
|
| Amount: | $400,000
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| Maturity: | May 3, 2019
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| Coupon: | 7% per year, payable quarterly if closing price of Bank of America shares is greater than or equal to barrier price on valuation date for that quarter
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| Price: | Par
|
| Payout at maturity: | Par unless Bank of America shares finish below barrier price, in which case full exposure to shares’ decline
|
| Call: | At par plus contingent coupon if closing share price is greater than or equal to initial share price on any quarterly valuation date
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| Initial share price: | $29.92
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| Barrier price: | $23.936, 80% of initial share price
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| Pricing date: | April 30
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| Settlement date: | May 3
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
|
| Cusip: | 17324XLF5
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