By Wendy Van Sickle
Columbus, Ohio, Dec. 14 – Citigroup Global Markets Holdings Inc. sold $8.88 million of contingent income autocallable securities due Dec. 7, 2023 tied to shares of Dow Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10.5% per year if the stock closes at or above its coupon threshold level, 65% of its initial level, on the related determination date.
The notes will be automatically called at par plus the coupon if the stock closes at or above its initial level on any quarterly redemption determination date.
The payout at maturity will be par plus any coupon unless the stock finishes below its 65% downside threshold, in which case investors will be fully exposed to the performance of the stock.
The notes are guaranteed by Citigroup, Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley & Co. LLC is a dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Dow Inc.
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| Amount: | $8,877610
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| Maturity: | Dec. 7, 2023
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| Coupon: | 10.5% per year, payable each quarter if each stock closes at or above its coupon threshold level on the related determination date
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| Price: | Par
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| Payout at maturity: | Par plus the coupon unless the stock finishes below its downside threshold, in which case investors will be fully exposed to the performance of the stock
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| Call: | Automatically at par plus coupon if the stock closes at or above its initial level on any quarterly redemption determination date
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| Initial level: | $55.05
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| Coupon threshold: | $35.783, 65% of initial level
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| Downside threshold level: | $35.783, 65% of initial level
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| Pricing date: | Dec. 4
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| Settlement date: | Dec. 9
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| Agent: | Citigroup Global Markets Inc. with Morgan Stanley & Co. LLC as dealer
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| Fees: | 2.5%
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| Cusip: | 17328L672
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