By Kiku Steinfeld
Chicago, Nov. 15 – Citigroup Global Markets Holdings Inc. priced $3.05 million of contingent income autocallable securities due Nov. 1, 2024 linked to Netflix, 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 8.5% if the stock closes at or above the 75% downside threshold on the corresponding determination date.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 75% 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: | Netflix, Inc.
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| Amount: | $3,054,240
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| Maturity: | Nov. 1, 2024
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| Coupon: | 8.5% annualized, payable quarterly if stock closes at or above downside threshold level on the corresponding determination date
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| Price: | Par of $10
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| Payout at maturity: | If stock finishes above downside threshold, par plus final 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 quarterly determination date
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| Initial share price: | $690.31
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| Downside threshold: | $517.733; 75% of initial level
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| Pricing date: | Oct. 29
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| Settlement date: | Nov. 3
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| Underwriter: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as selected dealer
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| Fees: | 2.5%
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| Cusip: | 17329T773
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