By Wendy Van Sickle
Columbus, Ohio, June 18 – Citigroup Global Markets Holdings Inc. priced $2.32 million of contingent income autocallable securities due June 14, 2024 linked to Anthem, Inc. 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 7.7% 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 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 plus coupon, 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.
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Guarantor: | Citigroup Inc.
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Issue: | Contingent income autocallable securities
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Underlying stock: | Anthem, Inc.
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Amount: | $2,319,690
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Maturity: | June 14, 2024
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Coupon: | 7.7% annualized, payable each quarter if stock closes at or above downside threshold level on determination date for that quarter
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Price: | Par
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Payout at maturity: | If stock finishes above downside threshold, par plus coupon; 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: | $383.87
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Downside threshold: | $307.096; 80% 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: | 2.5%
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Cusip: | 17329D190
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