By Taylor Fox
New York, Feb. 16 – Citigroup Global Markets Holdings Inc. priced $2.5 million of callable contingent coupon equity-linked securities due Jan. 25, 2024 linked to the stocks of Microsoft Corp., Amazon.com, Inc. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 11% if the least performing stock closes at or above its coupon barrier level, 60% 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 after one year.
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 Apple Inc.
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| Amount: | $2.5 million
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| Maturity: | Jan. 25, 2024
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| Contingent coupon: | 11% per year, payable quarterly if each 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 after one year
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| Initial levels: | $3,306.99 for Amazon, $224.97 for Microsoft and $136.87 for Apple
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| Coupon barrier levels: | $1,984.194 for Amazon, $134.982 for Microsoft and $82.122 for Apple; 60% of initial levels
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| Final barrier levels: | $1,984.194 for Amazon, $134.982 for Microsoft and $82.122 for Apple; 60% of initial levels
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| Pricing date: | Jan. 21
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| Settlement date: | Jan. 26
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17328YL51
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