Chicago, May 10 – Citigroup Global Markets Holdings Inc. priced $4.55 million of autocallable contingent coupon securities due March 25, 2022 linked to shares of Roku, 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 25% if the stock closes at or above the 69% coupon barrier level on the determination date for that quarter. Previously unpaid coupons will also be paid.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly valuation date other than the final date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 69% downside threshold, in which case investors will lose 1% for each 1% decline of the stock, payable in shares or cash at the issuer’s option.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon securities
|
| Underlying stock: | Roku, Inc.
|
| Amount: | $4,554,000
|
| Maturity: | March 25, 2022
|
| Coupon: | 25% per year, payable each quarter that stock closes at or above downside threshold level on determination date for that quarter; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, full exposure to decline, payable in shares or cash at the issuer’s option
|
| Call: | At par plus contingent coupon if stock closes at or above initial level on any quarterly valuation date other than the final date
|
| Initial share price: | $356.32
|
| Coupon barrier level: | $245.861, 69% of initial levels
|
| Downside threshold: | $245.861, 69% of initial levels
|
| Pricing date: | March 22
|
| Settlement date: | March 25
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17328NME5
|
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