By Taylor Fox
New York, Nov. 4 – Citigroup Global Markets Holdings Inc. priced $450,000 of 15.5% autocallable equity-linked securities due Nov. 5, 2021 tied to the common stock of DocuSign, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable monthly.
The notes will be automatically redeemed at par plus the coupon if DocuSign shares close at or above the initial price on any quarterly observation date.
The payout at maturity will be par unless the stock closes below the 60% knock-in level on any day during the life of the notes and finishes below the initial price, in which case the payout will be a number of DocuSign shares equal to $1,000 divided by the initial price or, at the issuer’s option, the cash value of those shares.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable equity-linked securities
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| Underlying units: | DocuSign, Inc.
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| Amount: | $450,000
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| Maturity: | Nov. 5, 2021
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| Coupon: | 15.5%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless stock closes below knock-in value on any day during life of notes and finishes below initial price, in which case 4.94438 DocuSign shares or, at issuer’s option, cash value of those shares
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| Call: | At par plus the coupon if DocuSign shares close at or above the initial price any quarterly observation date
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| Initial price: | $202.25
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| Knock-in value: | $121.35, 60% of initial price
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| Pricing date: | Nov. 2
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| Settlement date: | Nov. 5
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17324X6W5
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