By Wendy Van Sickle
Columbus, Ohio, April 25 – Citigroup Global Markets Holdings Inc. priced $1 million of autocallable contingent coupon equity-linked securities due April 23, 2024 linked to the stock performance of DraftKings 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 19.5% if the stock closes at or above the coupon barrier price, 65% 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 85% of the 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 55% final barrier price, the payout at maturity will be par plus the final coupon if any. Otherwise, investors will be fully exposed to the stock’s decline from its 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: | DraftKings Inc.
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| Amount: | $1 million
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| Maturity: | April 23, 2024
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| Coupon: | 19.5% 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 notes are not called and final share price is greater than or equal to final barrier price, par plus final coupon, if any; otherwise, lose 1% for every 1% decline from initial share price
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| Call: | Automatically at par plus contingent coupon if stock closes at or above 85% of initial level on any monthly valuation date after three months
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| Initial share price: | $15.98
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| Coupon barrier price: | $10.387; 65% of initial level
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| Final barrier price: | $8.789; 55% of initial level
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| Pricing date: | April 18
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| Settlement date: | April 21
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.45%
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| Cusip: | 17330FAU5
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