By William Gullotti
Buffalo, N.Y., March 21 – Citigroup Global Markets Holdings Inc. priced $5 million of autocallable contingent coupon equity-linked securities due March 21, 2023 linked to the stock performance of Coinbase Global, 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 quarterly coupon at an annualized rate of 37.8% if the stock closes at or above the coupon barrier price, 85% 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 initial share price on any quarterly valuation date after six months.
If the notes are not called and the final share price is greater than or equal to the 85% buffer price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% decline below 15%.
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: | Coinbase Global, Inc.
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| Amount: | $5 million
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| Maturity: | March 21, 2023
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| Coupon: | 37.8% annually, payable quarterly, if stock closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | If notes are not called and final share price is greater than or equal to buffer price, par plus final coupon; otherwise, lose 1% for every 1% decline below buffer
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any quarterly valuation date after six months
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| Initial share price: | $155.98
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| Coupon barrier price: | $132.583; 85% of initial level
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| Buffer price: | $132.583; 85% of initial level
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| Strike date: | March 15
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| Pricing date: | March 16
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| Settlement date: | March 21
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.7%
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| Cusip: | 17330AK27
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