By Kiku Steinfeld
Chicago, July 24 – Citigroup Global Markets Holdings Inc. priced $750,000 of autocallable contingent coupon equity-linked securities due Jan. 26, 2023 linked to the worse performing of the common stocks of Cisco Systems, Inc. and Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11% if each stock closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par if each stock closes at or above 93% of its initial level on any review date.
The payout at maturity will be par unless either stock finishes below its 70% barrier level, in which case investors will be fully exposed to any losses of the worse performing stock.
The notes are 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 stocks: | Cisco Systems, Inc. and Intel Corp.
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| Amount: | $750,000
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| Maturity: | Jan. 26, 2023
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| Coupon: | 11% annualized, payable quarterly if each stock closes at or above 70% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either stock closes below 70% barrier, in which case 1% loss for each 1% decline of worse performing stock
|
| Call: | At par if each stock closes at or above 93% of its initial level on any quarterly review date
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| Initial levels: | $47.02 for Cisco and $60.70 for Intel
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| Call levels: | $43.729 for Cisco and $56.451 for Intel; 93% of initial levels
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| Trigger levels: | $32.914 for Cisco and $42.490 for Intel, 70% of initial levels
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| Pricing date: | July 21
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| Settlement date: | July 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17328W3A4
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