By Wendy Van Sickle
Columbus, Ohio, April 7 – Citigroup Global Markets Holdings Inc. priced $1.33 million of autocallable contingent coupon equity-linked securities due March 28, 2024 linked to the worst performing of the stocks of Apple Inc. and Goldman Sachs Group, 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 quarterly coupon at an annual rate of 10.25% if each stock closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that period.
The notes will be automatically called at par if each stock closes at or above 90% of its initial price, on any quarterly valuation date after six months.
If the notes are not called and each stock finishes at or above final barrier price, 70% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will receive shares of the worst performer 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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Apple Inc. and Goldman Sachs Group, Inc.
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| Amount: | $1,332,000
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| Maturity: | March 28, 2024
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| Coupon: | 10.25%, payable quarterly if each stock closes at or above coupon barrier price, on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each stock closes at or above final barrier; otherwise, number of shares of the worst performer equal to the principal amount divided by initial share price of worst performing stock or, at issuer’s option, cash equivalent
|
| Call: | Automatically at par plus coupon if each stock closes at or above 90% of initial level on any quarterly valuation date after six months
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| Initial levels: | $150.27 for Apple and $201.91 for Goldman
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| Coupon barrier levels: | $85.778 for Apple and $232.239 for Goldman, 70% of initial levels
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| Final barrier levels: | $85.778 for Apple and $232.239 for Goldman, 70% of initial levels
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| Autocall barrier levels: | $110.286 for Apple and $298.593 for Goldman, 90% of initial levels
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| Pricing date: | March 23
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| Settlement date: | March 26
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17329F6S8
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