By Kiku Steinfeld
Chicago, Nov. 8 – Citigroup Global Markets Holdings Inc. priced $4.95 million of autocallable contingent coupon equity-linked securities due Nov. 1, 2022 linked to the common stock of Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annualized rate of 10.25% if the stock closes at or above the coupon barrier price, 64.25% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the stock close at or above the initial share price on any monthly valuation date after six months.
If the notes are not called, the payout at maturity will be par unless the final share price is less than the initial share price and the stock has closed below the knock-in value, 64.25% of the initial share price, during the life of the notes, in which case investors will be fully exposed to the decline of the stock price, payable as cash or shares at the issuer’s discretion.
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: | Nvidia Corp.
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| Amount: | $4,947,000
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| Maturity: | Nov. 1, 2022
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| Coupon: | 10.25% annually, payable monthly if stock closes at or above coupon barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless final share price is less than initial share price and stock has closed below knock-in value during life of notes, in which case full exposure to decline in stock, payable as cash or 5.20616 shares at issuer’s discretion
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| Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any monthly valuation date after six months
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| Initial share price: | $192.08
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| Coupon barrier price: | $123.411; 64.25% of initial level
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| Knock-in level: | $123.411; 64.25% of initial level
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| Pricing date: | July 27
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| Settlement date: | July 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.25%
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| Cusip: | 17328NUX4
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