Chicago, Feb. 9 – Citigroup Global Markets Holdings Inc. priced $537,000 of 0% autocallable securities due April 19, 2024 linked to Global Blood Therapeutics, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annual 15% premium if on any annual determination date the stock finishes above its premium threshold level. The first year the stock needs to be at its initial level, the second year at 95% and the third year at 90%.
If the notes are not automatically called, meaning the stock has finished below 90% of its initial level, the payout at maturity will be par if the stock closes above 60% of its initial level.
Otherwise, investors will be fully exposed to the losses of the stock, payable in shares or cash at the issuer’s option.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
|
| Underlying stock: | Global Blood Therapeutics, Inc.
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| Amount: | $537,000
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| Maturity: | April 19, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If stock finishes below premium threshold level but above final barrier level, par; otherwise, full exposure to losses of stock paid either as 24.5038 shares or cash at the issuer’s option
|
| Call: | At par plus annual 15% premium if stock finishes above premium threshold level on annual determination date; premium threshold level is initial level first year, 95% of initial level for second year and 90% for third year, the year the note matures
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| Initial share price: | $40.81
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| Downside threshold: | $24.486; 60% of initial level
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| Pricing date: | April 16
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| Settlement date: | April 21
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2%
|
| Cusip: | 17328NPK8
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