By Wendy Van Sickle
Columbus, Ohio, March 23 – Citigroup Global Markets Holdings Inc. priced $2.26 million of autocallable contingent coupon equity-linked securities due March 26, 2018 linked to ConocoPhillips stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 8% if ConocoPhillips stock closes at or above the coupon barrier, 80% of the initial price, on the valuation date for that quarter.
The notes will be called at par of $1,000 plus the contingent coupon if ConocoPhillips shares close at or above the initial share price on any valuation date from June 2017 to December 2017.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 80% barrier level, in which case investors receive a number of ConocoPhillips shares equal to $1,000 divided by the initial share price or, at the company’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: | ConocoPhillips
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| Amount: | $2.26 million
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| Maturity: | March 26, 2018
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| Coupon: | 8% per year, payable quarterly if 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: | Par unless stock finishes below barrier price, in which case 22.13369 ConocoPhillips shares
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| Call: | At par plus contingent coupon if stock closes at or above initial share price on any valuation date from June 2017 through December 2017
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| Initial share price: | $45.18
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| Barrier price: | $36.144, 80% of initial share price
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| Pricing date: | March 21
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| Settlement date: | March 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17324XBK5
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