By Taylor Fox
New York, March 19 – Citigroup Global Markets Holdings Inc. priced $1.82 million of 21% autocallable equity-linked securities due March 14, 2022 tied to the common stocks of Moderna, Inc. and Palantir Technologies Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Interest is payable monthly.
The notes will be automatically redeemed at par if both stocks close at or above their initial prices on any monthly autocall date after three months.
The payout at maturity will be par unless any stock finishes below its initial price and ever closes below its knock in level, 60% of its initial price, in which case investors will receive a fixed number of shares of the worst performer equal to its equity ratio divided by the initial price or, at the issuer’s option, the cash equivalent.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable equity-linked securities
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| Underlying stocks: | Moderna, Inc. and Palantir Technologies Inc.
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| Amount: | $1,817,000
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| Maturity: | March 14, 2022
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| Coupon: | 21% per year, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its initial price and ever closes below its knock in level, 60% of its initial price, in which case full exposure to losses of worst performer, payable in either shares or cash
|
| Call: | At par if each stocks closes at or above initial price on any monthly autocall date after three months
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| Initial prices: | $130.87 for Moderna and $24.26 for Palantir
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| Downside thresholds: | $78.522 for Moderna and $14.556 for Palantir, 50% of initial prices
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| Equity ratios: | 7.64117 for Moderna and 41.22012 for Palantir
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| Pricing date: | March 9
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| Settlement date: | March 12
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.875%
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| Cusip: | 17328NLZ9
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