By Sarah Lizee
Olympia, Wash., March 13 – Citigroup Global Markets Holdings Inc. priced $2 million of autocallable contingent coupon equity-linked securities due March 9, 2021 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 18% per year if the stock closes at or above its coupon barrier value, 75% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if the stock closes at or above its initial share price on any quarterly valuation date after six months.
If the final share price is greater than or equal to the buffer level, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the stock beyond the buffer.
The notes will be guaranteed by Citigroup Inc.
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: | Tesla, Inc.
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| Amount: | $2 million
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| Maturity: | March 9, 2021
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| Coupon: | 18% per year, payable quarterly if stock closes at or above coupon barrier value on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless final share price is less than buffer level, in which case investors will lose 1% for every 1% decline beyond the buffer
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| Call: | Automatically at par plus coupon if stock closes at or above initial share price on any quarterly valuation date after six months
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| Initial share price: | $745.51
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| Coupon barrier: | $559.133, or 75% of initial share price
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| Buffer value: | $559.133, or 75% of initial share price
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| Pricing date: | March 4
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| Settlement date: | March 9
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.25%
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| Cusip: | 17328V7D6
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