By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – Citigroup Global Markets Holdings Inc. priced $10 million of autocallable phoenix securities due Dec. 6, 2021 linked to the common stock of 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 annual rate of10.6% if the stock closes at or above its 85% coupon barrier on the related quarterly observation date, in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on any quarterly valuation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the stock finishes below the 80% buffer, in which case investors will lose 1.25% for each 1% decline in the share price beyond 20%.
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 phoenix securities
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| Underlying stock: | PayPal Holdings, Inc.
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| Amount: | $10 million
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| Maturity: | Dec. 6, 2021
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| Coupon: | 10.6% annualized, payable each quarter that stock closes at or above coupon barrier on determination date for that quarter, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless the stock finishes below buffer, in which case 1.25% loss for each 1% decline in share price beyond 20%
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| Call: | At par plus contingent coupon if stock closes at or above initial price on any quarterly valuation date
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| Initial share price: | $214.12
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| Coupon barrier: | $171.296, 80% of initial price
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| Buffer: | $171.296, 80% of initial price
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| Pricing date: | Dec. 1
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| Settlement date: | Dec. 4
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17328YEJ9
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