By Taylor Fox
New York, Nov. 5 – Citigroup Global Markets Holdings Inc. priced $700,000 of autocallable contingent coupon equity-linked securities due April 13, 2023 linked to the shares of Microsoft Corp. and PayPal Holdings, 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 annualized rate of 9.35% if the stocks close at or above the coupon barrier price, 65% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the shares of both stocks close at or above 95% of their initial share prices on any quarterly valuation date.
If the notes are not called, the payout at maturity will be par unless the shares of either stock finish below the 65% final barrier level, in which case investors will be fully exposed to the loss.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Microsoft Corp. and PayPal Holdings, Inc.
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| Amount : | $700,000
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| Maturity: | April 13, 2023
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| Coupon: | 9.35% per year, payable quarterly if closing price of shares of both stocks is greater than or equal to coupon barrier price on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless shares finish below final barrier level, in which case, full exposure to decline
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| Call: | At par plus contingent coupon if closing share prices of both stocks is greater than or equal to 95% of initial share prices on any quarterly valuation date
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| Initial share prices: | $210.58 for Microsoft and $193.06 for PayPal
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| Coupon barrier prices: | $136.877 for Microsoft and $125.489 for PayPal, 65% of initial share price
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| Final barrier prices: | $136.877 for Microsoft and $125.489 for PayPal, 65% of initial share price
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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: | 3.25%
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| Cusip: | 17328WPD4
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