By Kiku Steinfeld
Chicago, April 21 – Citigroup Global Markets Holdings Inc. priced $315,000 of autocallable contingent coupon equity-linked securities due April 8, 2024 linked to the worst performing of the stocks of Dexcom, Inc., Eli Lilly and Co. and IDEXX Laboratories, 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 12.5% if each stock closes at or above its coupon barrier price, 60% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial share price on any quarterly valuation date.
If the notes are not called and each stock finishes at or above its final barrier price, 60% of its initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the losses of the worst performer, payable in shares or cash at the issuer’s option.
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: | Dexcom, Inc., Eli Lilly and Co. and IDEXX Laboratories, Inc.
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| Amount: | $315,000
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| Maturity: | April 8, 2024
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| Coupon: | 12.5% annualized rate, 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 price; otherwise, full exposure to losses of worst performer, payable in either shares or cash at the issuer’s option
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly valuation date
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| Initial share prices: | $347.20 for Dexcom, $185.50 for Eli Lilly and $475.95 for IDEXX
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| Coupon barrier prices: | $208.320 for Dexcom, $111.300 for Eli Lilly and $285.570 for IDEXX; 60% of initial share prices
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| Final barrier prices: | $208.320 for Dexcom, $111.300 for Eli Lilly and $285.570 for IDEXX; 60% of initial share prices
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| Equity ratios: | 2.88018 for Dexcom, 5.39084 for Eli Lilly and 2.10106 for IDEXX
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| Pricing date: | March 30
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| Settlement date: | March 31
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17328NPX0
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