By Kiku Steinfeld
Chicago, June 7 – Citigroup Global Markets Holdings Inc. priced $1.78 million of contingent income autocallable securities due May 10, 2024 linked to Chevron Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.25% if the stock closes at or above the 80% downside threshold on the determination date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above its initial level on any determination date after six months.
The payout at maturity will be par unless the stock finishes below its 80% downside threshold, in which case investors will lose 1% for each 1% decline.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is a selected dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Chevron Corp.
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| Amount: | $1,778,860
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| Maturity: | May 10, 2024
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| Coupon: | 8.25% annualized, payable each quarter if stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If stock finishes above downside threshold, par; otherwise, full exposure to decline
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| Call: | At par plus contingent coupon if stock closes at or above initial level on any determination date after six months
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| Initial share price: | $110.02
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| Downside threshold: | $88.016, 80% of initial level
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| Pricing date: | May 7
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| Settlement date: | May 12
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| Underwriter: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as a selected dealer
|
| Fees: | 2.5%
|
| Cusip: | 17329D828
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