By Kiku Steinfeld
Chicago, March 28 – Citigroup Global Markets Holdings Inc. priced $1.51 million of autocallable contingent coupon equity-linked securities due Sept. 26, 2024 linked to the worst performing of the stocks of Marathon Oil Corp., Penn National Gaming, Inc. and Nvidia 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 monthly coupon at an annual rate of 12.65% if each stock closes at or above its coupon barrier price, 60% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial share price on any quarterly valuation date.
If the notes are not called and each stock finishes at or above its final barrier price, 60% of its initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial share price.
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: | Marathon Oil Corp., Penn National Gaming, Inc. and Nvidia Corp.
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Amount: | $1,508,000
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Maturity: | Sept. 26, 2024
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Coupon: | 12.65% annualized rate, payable monthly if each stock closes at or above coupon barrier price on valuation date for that period
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Price: | Par
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Payout at maturity: | Par plus final coupon if each stock finishes at or above final barrier price; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial share price
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Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly valuation date
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Initial share prices: | $11.41 for Marathon, $212.46 for Nvidia, $70.15 for Penn
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Coupon barrier prices: | $6.846 for Marathon, $127.476 for Nvidia, $42.090 for Penn; 60% of initial share prices
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Final barrier prices: | $6.846 for Marathon, $127.476 for Nvidia, $42.090 for Penn; 60% of initial share prices
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Pricing date: | Sept. 21
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Settlement date: | Sept. 24
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3.7%
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Cusip: | 17329QNB2
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