By William Gullotti
Buffalo, N.Y., June 17 – Citigroup Global Markets Holdings Inc. priced $10 million of contingent income autocallable securities due June 16, 2022 linked to Eli Lilly and Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12% if the stock closes at or above the 90% downside threshold on the determination date for that month. 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 determination date. Previously unpaid coupons will also be paid.
The payout at maturity will be par plus coupon, including previously unpaid coupons, unless the stock finishes below its 90% 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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Eli Lilly and Co.
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| Amount: | $10 million
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| Maturity: | June 16, 2022
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| Coupon: | 12% annualized, payable each month if stock closes at or above downside threshold level on determination date for that month; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | If stock finishes above downside threshold, par plus coupon including previously unpaid coupons; 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; previously unpaid coupons will also be paid
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| Initial share price: | $233.54
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| Downside threshold: | $210.186; 90% of initial level
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| Pricing date: | June 11
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| Settlement date: | June 16
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| Underwriter: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as dealer
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| Fees: | 0.2%
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| Cusip: | 17328NSE9
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