By Devika Patel
Knoxville, Tenn., Jan. 27 – Citigroup Global Markets Holdings Inc. priced $1.98 million of autocallable contingent coupon equity-linked securities due Jan. 30, 2018 linked to the common stock of Celgene 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 annual rate of 8% if the stock closes at or above the barrier level, 77.5% of the initial level, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes 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 77.5% barrier level, in which case investors will receive a number of shares of the stock equal to the principal divided by the initial share price, 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: | Celgene Corp.
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Amount: | $1,977,000
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Maturity: | Jan. 30, 2018
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Coupon: | 8% per year, payable quarterly if the stock closes 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 the stock is greater than or equal to barrier level, par plus final coupon; otherwise, a number of shares of the stock equal to the principal divided by the initial share price, or, at issuer’s option, cash equivalent
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Call: | At par plus contingent coupon if the stock closes at or above initial share price on any quarterly valuation date
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Initial share prices: | $113.98
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Barrier levels: | $88.335, 77.5% of initial share price
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Pricing date: | Jan. 25
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Settlement date: | Jan. 30
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.25%
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Cusip: | 17324XAS9
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