By Wendy Van Sickle
Columbus, Ohio, Feb. 25 – Citigroup Global Markets Holdings Inc. priced $3.53 million of contingent income autocallable securities due Feb. 21, 2025 linked to the least performing of the stocks of Alphabet Inc. and Wells Fargo & Co., 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 the rate of 12.1% per year if each stock closes at or above its coupon barrier level, 70% of its initial level, on the corresponding determination date.
The notes will be automatically called at par if each stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless any stock finishes below its downside threshold level, 70% of its initial level, in which case investors will lose 1% for every 1% that the least-performing stock declines from its initial level.
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 stocks: | Alphabet Inc. and Wells Fargo & Co.
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| Amount: | $3.53 million
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| Maturity: | Feb. 21, 2025
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| Coupon: | 12.1% per year, payable quarterly if each stock closes at or above coupon barrier level on the corresponding determination date
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below downside threshold level, in which case 1% loss for every 1% that least-performing stock declines from initial level
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly determination date
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| Initial levels: | $2,608.06 for Alphabet, $55.63 for Wells Fargo
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| Coupon barriers: | $1,825.642 for Alphabet, $38.941 for Wells Fargo; 70% of initial levels
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| Downside thresholds: | $1,825.642 for Alphabet, $38.941 for Wells Fargo; 70% of initial levels
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| Pricing date: | Feb. 18
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| Settlement date: | Feb. 24
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| Underwriter: | Citigroup Global Markets Inc. and Morgan Stanley Wealth Management as selected dealer
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| Fees: | 2.5%
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| Cusip: | 17330L652
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