By William Gullotti
Buffalo, N.Y., Jan. 14 – Citigroup Global Markets Holdings Inc. priced $1.5 million of autocallable contingent coupon equity-linked securities due Jan. 16, 2025 linked to the stock performance of Lucid 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 monthly coupon at an annualized rate of 14.3% if the stock closes at or above the coupon barrier price, 60% 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 call level, 80% of initial share price, on any monthly valuation date after three months.
If the notes are not called and the final share price is greater than or equal to the coupon barrier price, the payout at maturity will be par plus the final coupon.
If the stock finishes below the coupon barrier but not below the 50% final barrier price, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the 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 stock: | Lucid Group, Inc.
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| Amount: | $1.5 million
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| Maturity: | Jan. 16, 2025
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| Coupon: | 14.3% 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: | If the stock finishes at or above coupon barrier, par plus final coupon; if the stock finishes below coupon barrier but at or above final barrier, par; otherwise, full exposure to decline from initial share price
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| Call: | Automatically at par plus contingent coupon if stock closes at or above call level on any monthly valuation date after three months
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| Initial share price: | $45.47
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| Call level: | $36.376; 80% of initial share price
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| Coupon barrier price: | $27.282; 60% of initial share price
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| Final barrier price: | $22.735; 50% of initial share price
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 14
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17329UVC2
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