By Kiku Steinfeld
Chicago, Jan. 15 – Citigroup Global Markets Holdings Inc. priced $1 million of callable contingent coupon equity-linked securities due Jan. 12, 2023 linked to the stocks of Microsoft Corp., Amazon.com, Inc. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent monthly coupon at an annualized rate of 15.25% if the least performing stock closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly potential redemption date.
If the notes are not redeemed early, the payout will be par plus the return of the least performing stock unless the worst performing stock finishes below 60% of its initial level, in which case investors 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: | Microsoft Corp., Amazon.com, Inc. and Nvidia Corp.
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| Amount: | $1 million
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| Maturity: | Jan. 12, 2023
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| Contingent coupon: | 15.25% per year, payable monthly if stock closes at or above coupon barrier on the valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless least performing stock finishes below its final barrier level, in which case investors will lose 1% for every 1% decline of the least performing stock, payable in either cash or shares
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| Call option: | In whole at par plus any coupon due on any quarterly potential redemption date
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| Initial levels: | $3,182.70 for Amazon, $219.62 for Microsoft and $531.07 for Nvidia
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| Coupon barrier levels: | $2,227.890 for Amazon, $153.734 for Microsoft and $371.749 for Nvidia; 70% of initial levels
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| Final barrier levels: | $1,909.620 for Amazon, $131.772 for Microsoft and $318.642 for Nvidia; 60% of initial levels
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| Equity ratios: | 0.31420 for Amazon, 4.55332 for Microsoft and 1.88299 for Nvidia
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| Pricing date: | Jan. 8
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| Settlement date: | Jan. 13
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.4%
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| Cusip: | 17328NDA3
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