By Taylor Fox
New York, Nov. 5 – Citigroup Global Markets Holdings Inc. priced $1.8 million of callable contingent coupon equity-linked securities due Oct. 13, 2022 linked to the least performing of the stocks of Amazon.com, Inc., Apple Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each month, the notes pay a contingent coupon at the rate of 15% per year if each stock closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that period.
The notes are callable at par on any quarterly potential redemption date.
The payout at maturity will be par unless any stock finishes below its barrier level, 60% of its initial level, in which case investors will lose 1% for every 1% decline of the least performing stock, payable in either cash or shares.
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: | Callable contingent coupon equity-linked securities
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| Underlying stocks: | Amazon.com, Inc., Apple Inc. and Microsoft Corp.
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| Amount: | $1.8 million
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| Maturity: | Oct. 13, 2022
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| Coupon: | 15% per year, paid monthly, unless any stock closes below coupon barrier level on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its barrier level, in which case 1% loss for every 1% decline of the least performing stock
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| Call: | At par on any quarterly call observation date
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| Initial levels: | $3,190.55 for Amazon, $114.97 for Apple and $210.58 for Microsoft
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| Coupon barrier levels: | $1,914.330 for Amazon, $68.982 for Apple and $126.348 for Microsoft; 60% of initial levels
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| Final barrier levels: | $1,914.330 for Amazon, $68.982 for Apple and $126.348 for Microsoft; 60% of initial levels
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| Pricing date: | Oct. 8
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| Settlement date: | Oct. 14
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.4%
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| Cusip: | 17324X3T5
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