By William Gullotti
Buffalo, N.Y., Jan. 25 – Citigroup Global Markets Holdings Inc. priced $5.65 million of autocallable contingent coupon equity-linked securities due Oct. 10, 2024 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the stocks of Advanced Micro Devices, Inc., Apple Inc., Lucid Group, Inc. and Nvidia Corp.
The notes will pay a contingent monthly coupon at the rate of 7.5% per year if the basket closes at or above its coupon barrier value, 70% of its initial level, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if the basket closes at or above its initial level on any monthly valuation date after six months.
If the final basket level is greater than or equal to the coupon barrier, the payout at maturity will be par plus the final coupon.
If the basket finishes below the coupon barrier but at or above the 60% barrier level, the payout will be par. Otherwise, investors will lose 1% for every 1% of basket decline from its initial level.
The notes will be guaranteed by Citigroup Inc.
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: | Advanced Micro Devices, Inc., Apple Inc., Lucid Group, Inc. and Nvidia Corp.; equal weights
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| Amount: | $5,645,000
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| Maturity: | Oct. 10, 2024
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| Coupon: | 7.5% per year, payable monthly if the basket closes at or above coupon barrier value on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If basket finishes at or above coupon barrier, par plus final coupon; if basket finishes below coupon barrier but at or above final barrier, par; otherwise, full exposure to basket decline from initial level
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| Call: | Automatically at par plus coupon if basket closes at or above initial level on any monthly valuation date after six months
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| Initial levels: | $132.00 for AMD, $172.17 for Apple, $41.98 for Lucid, $272.47 for Nvidia
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| Coupon barrier level: | 70% of initial level
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| Final barrier level: | 60% of initial level
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| Pricing date: | Jan. 7
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| Settlement date: | Jan. 12
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17329UMR9
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