By William Gullotti
Buffalo, N.Y., July 17 – Citigroup Global Markets Holdings Inc. sold $1.3 million of 0% market-linked autocallable securities with contingent coupon and contingent downside due June 29, 2026 linked to the stock performance of Nvidia Corp., Microsoft Corp. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will pay a contingent monthly interest payment at the rate of 13.9% per year if each stock closes at or above the coupon barrier level, 60% of the initial level, on the observation date for that period.
The notes will be automatically called at par plus coupon if each stock closes at or above initial levels on any monthly observation date after six months.
The payout at maturity will be par plus the final coupon if each stock finishes at or above its coupon barrier.
If the worst performer finishes below its coupon barrier but at or above its 50% threshold level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked autocallable securities with contingent coupon and contingent downside
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| Underlying stocks: | Microsoft Corp., Alphabet Inc., Nvidia Corp.
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| Amount: | $1,295,000
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| Maturity: | June 29, 2026
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| Coupon: | 13.9% annual rate, payable monthly if all stocks close at or above their coupon barrier levels on the relevant observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each stock finishes at or above coupon barrier; if worst performer finishes below coupon barrier but at or above threshold level, par; otherwise, full exposure to decline of worst performer from initial level
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial levels on any monthly observation date after six months
|
| Initial levels: | $340.54 for Microsoft, $120.97 for Alphabet, $423.02 for Nvidia
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| Coupon barriers: | $204.324 for Microsoft, $72.582 for Alphabet, $253.812 for Nvidia; 60% of initial levels
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| Threshold levels: | $170.27 for Microsoft, $60.485 for Alphabet, $211.51 for Nvidia; 50% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
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| Fees: | 2.325%
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| Cusip: | 17291RC91
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