By Wendy Van Sickle
Columbus, Ohio, March 11 – Citigroup Global Markets Holdings Inc. priced $227,000 of autocallable equity-linked securities due March 7, 2023 tied to shares of JD.com, Inc., International Business Machines Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 9.55% per year, payable quarterly.
The notes will be automatically redeemed at par plus interest if the worst-performing stock closes at or above its initial price on any quarterly observation date.
If the notes are not called and the final price each stock is at least 60% of its initial price, the payout at maturity will be par. Otherwise, the payout will be the final share price of the worst-performing stock multiplied by its equity ratio, $1,000 divided by the 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 equity-linked securities
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| Underlying stocks: | JD.com, Inc., International Business Machines Corp. and Walmart Inc.
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| Amount: | $227,000
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| Maturity: | March 7, 2023
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| Coupon: | 9.55%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par if each stock’s final price is at least 60% of initial price; otherwise, exposure to the decline of the worst performing stock
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| Call: | At par plus interest if the worst-performing stock closes at or above initial price on any quarterly observation date
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| Initial prices: | $38.40 for JD.com, $133.11 for IBM, $110.40 for Walmart
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| Downside thresholds: | $23.04 for JD.com, $79.866 for IBM, $66.42 for Walmart; 60% of initial prices
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| Pricing date: | Feb. 28
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| Settlement date: | March 4
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17324XWX4
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