Chicago, Sept. 13 – Citigroup Global Markets Holdings Inc. priced $1.26 million of autocallable contingent coupon equity-linked securities due Feb. 29, 2024 linked to the worst performing of the stocks of Target Corp. and Walmart 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 coupon barrier price, 59% of its initial share price, on the valuation date for that period. Previously unpaid coupons will also be paid.
The notes will be automatically called at par if the lesser performing 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, 59% of its initial share price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the losses of the worst performer, payable in shares or cash at the issuer’s option.
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: | Target Corp. and Walmart Inc.
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Amount: | $1,258,000
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Maturity: | Feb. 29, 2024
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Coupon: | 10% annualized rate, payable quarterly if each stock closes at or above coupon barrier price on valuation date for that period; previously unpaid coupons will also be paid
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Price: | Par
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Payout at maturity: | Par if each stock closes at or above final barrier price; otherwise, full exposure to losses of worst performer, payable in either shares or cash at the issuer’s option
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Call: | Automatically at par if lesser performing stock closes at or above initial share price on any quarterly valuation date
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Initial share prices: | $160.62 for Target, $131.60 for Walmart
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Coupon barrier prices: | $94.766 for Target, $77.644 for Walmart, 59% of initial share prices
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Final barrier prices: | $94.766 for Target, $77.644 for Walmart, 59% of initial share prices
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Equity ratios: | 6.22587 or Target, 7.59878 for Walmart
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.25%
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Cusip: | 17330DHX7
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