By William Gullotti
Buffalo, N.Y., Nov. 22 – Citigroup Global Markets Holdings Inc. priced $1.44 million of autocallable contingent coupon equity-linked securities due Aug. 9, 2024 linked to the worst performing of the stocks of Cisco Systems, Inc. and Intel 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 quarterly coupon at an annual rate of 10% if each stock closes at or above its coupon barrier price, 75% of its initial share price, on the valuation date for that period.
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 valuation date.
If the notes are not called and each stock finishes at or above its final barrier price, 75% of its initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its 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: | Cisco Systems, Inc., Intel Corp.
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| Amount: | $1,437,000
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| Maturity: | Aug. 9, 2024
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| Coupon: | 10% annualized rate, payable quarterly if each 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 plus final coupon if each stock finishes at or above final barrier price; otherwise, investors will be fully exposed to the decline of the worst performer from its initial share price
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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: | $55.59 for Cisco, $53.92 for Intel
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| Coupon barrier prices: | $41.693 for Cisco, $40.44 for Intel; 75% of initial share prices
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| Final barrier prices: | $41.693 for Cisco, $40.44 for Intel; 75% of initial share prices
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| Pricing date: | Aug. 6
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| Settlement date: | Aug. 11
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17329Q6N5
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