By Wendy Van Sickle
Columbus, Ohio, July 14 – Citigroup Global Markets Holdings Inc. priced $1.3 million of autocallable contingent coupon equity-linked securities due July 17, 2017 linked to JPMorgan Chase & Co. shares, 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 7% if JPMorgan stock closes at or above the coupon 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 JPMorgan shares close at or above the initial share price on any quarterly valuation date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 80% barrier level, in which case investors will receive JPMorgan shares or, at the issuer’s option, the cash equivalent.
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 stock: | JPMorgan Chase & Co.
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Amount: | $1,304,000
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Maturity: | July 17, 2017
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Coupon: | 7% per year, payable quarterly if JPMorgan shares 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 share price is greater than or equal to barrier level, par plus final coupon; otherwise, JPMorgan shares or, at issuer’s option, cash equivalent
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Call: | At par plus contingent coupon if JPMorgan shares close at or above initial share price on any quarterly valuation date
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Initial share price: | $63.20
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Barrier: | $50.56, 80% of initial share price
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Pricing date: | July 12
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Settlement date: | July 15
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2%
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Cusip: | 17324C6Q4
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