By Kiku Steinfeld
Chicago, Oct. 4 – Citigroup Global Markets Holdings Inc. priced $2.83 million of autocallable contingent coupon equity-linked securities due July 14, 2022 linked to the worst performing of the stocks of Roku, Inc. and Dell Technologies 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 18.25% if each stock closes at or above the coupon barrier price, 70% 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, 70% 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, payable either in shares or cash at the issuer’s option.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Roku, Inc. and Dell Technologies Inc.
|
| Amount: | $2,829,000
|
| Maturity: | July 14, 2022
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| Coupon: | 18.25% annualized rate, payable quarterly if each stock closes at or above coupon barrier price, on valuation date for that quarter; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each stock closes at or above final barrier; otherwise, full exposure to losses of worst performer, payable in shares or cash at the issuer’s option
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly valuation date after six months
|
| Initial levels: | $100.25 for Dell and $431.61 for Roku
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| Coupon barrier levels: | $70.175 for Dell and $302.127 for Roku, 70% of initial levels
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| Final barrier levels: | $70.175 for Dell and $302.127 for Roku, 70% of initial levels
|
| Equity ratios: | 9.97506 for Dell and 2.31691 for Roku
|
| Pricing date: | July 9
|
| Settlement date: | July 14
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17328NVD7
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