By Kiku Steinfeld
Chicago, Feb. 17 – Citigroup Global Markets Holdings Inc. priced $800,000 of autocallable contingent coupon equity-linked securities due Feb. 8, 2024 linked to the worst performing of the stocks of CVS Health Corp. and Walgreens Boots Alliance, 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 plus any previously unpaid coupons at an annual rate of 9.65% if each stock closes at or above the coupon barrier price, 55% of the initial price, on the valuation date for that quarter.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial price on any quarterly valuation date after six months.
If the notes are not called and each stock finishes at or above final barrier price, 55% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the losses of the worst performer.
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: | CVS Health Corp. and Walgreens Boots Alliance, Inc.
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| Amount: | $800,000
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| Maturity: | Feb. 8, 2024
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| Coupon: | 9.65% annualized rate, payable quarterly if each stock closes at or above coupon barrier price, on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each stock closes at or above final barrier; otherwise, full exposure to losses of worst performer
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly valuation date after six months
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| Initial levels: | $73.00 for CVS and $49.27 for Walgreens
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| Coupon barrier levels: | $40.15 for CVS and $27.099 for Walgreens, 55% of initial levels
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| Final barrier levels: | $40.15 for CVS and $27.099 for Walgreens, 55% of initial levels
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| Pricing date: | Feb. 4
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| Settlement date: | Feb. 9
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.35%
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| Cusip: | 17328YT61
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