By Wendy Van Sickle
Columbus, Ohio, March 25 – Citigroup Global Markets Holdings Inc. priced $8.34 million of autocallable contingent coupon equity-linked securities due April 27, 2022 linked to the stock of Peloton Interactive, 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 monthly coupon at an annual rate of 15.65% if the stock closes at or above the coupon barrier price, 51% of the initial price, on the valuation date for that month.
The notes will be automatically called at par of $1,000 plus the coupon if the stock closes at or above its initial price on any monthly valuation date after six months.
If the notes are not called and the stock finishes at or above final barrier price, 51% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stock: | Peloton Interactive, Inc.
|
| Amount: | $8,342,000
|
| Maturity: | April 27, 2022
|
| Coupon: | 15.65% annualized rate, payable monthly if stock closes at or above coupon barrier price on valuation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if stock closes at or above final barrier price; otherwise, number of shares equal to par divided by initial share price or, at issuer’s option, cash equivalent
|
| Call: | Automatically at par plus coupon if stock closes at or above initial level on any monthly valuation date after six months
|
| Initial level: | $109.54
|
| Coupon barrier price: | $55.865, 51% of initial levels
|
| Barrier price: | $55.865, 51% of initial levels
|
| Equity ratio: | 9.12909
|
| Pricing date: | March 22
|
| Settlement date: | March 25
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.15%
|
| Cusip: | 17328NLL0
|
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