By Wendy Van Sickle
Columbus, Ohio, Aug. 3 – Citigroup Global Markets Holdings Inc. priced $20.44 million of autocallable contingent coupon equity-linked securities due Aug. 1, 2024 linked to a basket containing equal weights of the stocks of Bank of America Corp., Goldman Sachs Group, Inc. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 7.25% per year if the basket closes at or above its coupon barrier value, 60% of its initial level, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if the basket closes at or above its initial level on any monthly valuation date after one year.
If the final basket level is greater than or equal to the 60% barrier level, the payout will be par. Otherwise, investors will be exposed to the decline of the basket.
The notes will be guaranteed by Citigroup Inc.
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 stock: | Bank of America Corp., Goldman Sachs Group, Inc. and JPMorgan Chase & Co., equal weights
|
| Amount: | $20,435,000
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| Maturity: | Aug. 1, 2024
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| Coupon: | 7.25% per year, payable each month if basket closes at or above coupon barrier value on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless final basket level is less than 60% buffer level, in which case exposure to loss of basket
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| Call: | Automatically at par plus coupon if basket closes at or above initial level on any monthly valuation date after one year
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| Initial levels: | $24.36 for BofA, $201.62 for Goldman, $97.32 for JPMorgan
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| Pricing date: | July 28
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| Settlement date: | July 31
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
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| Cusip: | 17328W5B0
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