By Taylor Fox
New York, Oct. 28 – Citigroup Global Markets Holdings Inc. priced $466,000 of autocallable contingent coupon equity-linked securities due March 31, 2022 linked to the stock of Tesla, 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 monthly coupon plus all previously unpaid contingent coupon payments at an annualized rate of 20% if Tesla stock closes at or above the barrier price, 60% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if Tesla shares close at or above 87% of the initial share price on any monthly valuation date after three months.
If the notes are not called, the payout at maturity will be par unless the shares finish below the 50% final barrier level, in which case investors will be fully exposed to any decline in 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: | Autocallable contingent coupon equity-linked securities
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| Underlying stock: | Tesla, Inc.
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| Amount: | $466,000
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| Maturity: | March 31, 2022
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| Coupon: | 20% per year, payable monthly plus all previously unpaid contingent coupon payments if closing price of Tesla shares is greater than or equal to barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless shares finish below final barrier level, in which case, fully exposure to losses of stock
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| Call: | At par plus contingent coupon if closing share price is greater than or equal to 87% of its initial share price on any monthly valuation date after three months
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| Initial share price: | $421.20
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| Coupon barrier price: | $252.72, 60% of initial share price
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| Autocall barrier price: | $366.444, 87% of initial share price
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| Final barrier price: | $210.6, 50% of initial share price
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| Pricing date: | Sept. 28
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| Settlement date: | Oct. 1
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17328WQP6
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