By Wendy Van Sickle
Columbus, Ohio, Aug. 14 – Citigroup Global Markets Holdings Inc. priced $1.49 million of autocallable contingent coupon equity-linked securities due Aug. 3, 2020 tied to the common stocks of Alphabet Inc., Microsoft Corp. and Apple Inc., 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 10% if each stock closes at or above its 65% coupon barrier price on the review date.
The notes will be automatically redeemed at par plus interest if each stock closes at or above its initial price on any quarterly redemption date.
If the notes are not called and the final price of each stock is at least 65% of its initial price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing stock.
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 stocks: | Alphabet Inc., Microsoft Corp. and Apple Inc.
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| Amount: | $1,485,000
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| Maturity: | Aug. 3, 2020
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| Coupon: | 10% annualized, payable quarterly if each stock closes at or above coupon barrier price on review date
|
| Price: | Par
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| Payout at maturity: | Par if each stock’s final price is at least 65% of initial price; otherwise, full exposure to decline of least-performing stock
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| Call: | At par plus interest if each stock closes at or above initial price on any quarterly redemption date
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| Initial prices: | $1,238.50 for Alphabet, $107.68 for Microsoft, $190.98 for Apple
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| Coupon barriers/final barriers: | $805.025 for Alphabet, $69.992 for Microsoft, $124.137 for Apple; 65% of initial prices
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| Pricing date: | July 27
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| Settlement date: | Aug. 3
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.55%
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| Cusip: | 17324XHS2
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