By William Gullotti
Buffalo, N.Y., Oct. 12 – Citigroup Global Markets Holdings Inc. priced $9.07 million of autocallable contingent coupon equity-linked securities due Oct. 7, 2024 linked to the performance of the stocks of Amazon.com, Inc. and Goldman Sachs Group, 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 8% if each stock closes at or above its coupon barrier price, 68% of its initial share price, on the valuation date for that period. Previously unpaid coupons, if any, will be automatically included whenever a coupon payment is made.
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 autocall date.
If the notes are not called and each stock finishes at or above its final barrier price, 68% of its initial share price, the payout at maturity will be par plus the final coupon and any previously unpaid coupons.
Otherwise, investors will receive a number of shares of the worst performer equal to $5,000 divided by that stock’s initial share price.
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: | Amazon.com, Inc., Goldman Sachs Group, Inc.
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| Amount: | $9.07 million
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| Maturity: | Oct. 7, 2024
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| Coupon: | 8% annualized rate, payable quarterly if each stock closes at or above coupon barrier price on valuation date for that period; coupon payment events will automatically include any previously unpaid coupons
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| Price: | Par of $5,000
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| Payout at maturity: | Par plus final coupon and any previously unpaid coupons if each stock closes at or above final barrier price; otherwise, investors will receive shares of worst performer equal to that stock’s equity ratio
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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: | $3,301.12 for Amazon, $384.89 for Goldman Sachs
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| Coupon barrier prices: | $2,244.762 for Amazon, $261.725 for Goldman Sachs; 68% of initial share prices
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| Final barrier prices: | $2,244.762 for Amazon, $261.725 for Goldman Sachs; 68% of initial share prices
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| Equity ratio: | 1.51464 for Amazon, 12.99072 for Goldman Sachs; total per security
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 6
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17328NA24
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