By Wendy Van Sickle
Columbus, Ohio, June 11 – Citigroup Global Markets Holdings Inc. priced $10.42 million of contingent income autocallable securities due June 8, 2023 linked to the common shares of Lowe’s Cos., 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 the stock closes at or above the 60% downside threshold level on the determination date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above its initial level on any valuation date other than the final date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 60% downside threshold, in which case investors will lose 1% for each 1% decline of the stock.
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: | Contingent income autocallable securities
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| Underlying stock: | Lowe’s Cos., Inc.
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| Amount: | $10,417,740
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| Maturity: | June 8, 2023
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| Coupon: | 10% per year, payable each quarter that stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, full exposure to decline
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| Call: | At par plus contingent coupon if stock closes at or above initial level on any valuation date other than the final date
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| Initial share price: | $130.97
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| Downside threshold: | $78.582, 60% of initial levels
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| Pricing date: | June 5
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| Settlement date: | June 10
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
|
| Cusip: | 17327Y741
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