By Wendy Van Sickle
Columbus, Ohio, April 25 – Citigroup Global Markets Holdings Inc. priced $18.55 million of contingent income autocallable securities due April 24, 2025 linked to Wells Fargo & Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.75% if the stock closes at or above the 70% downside threshold on the corresponding determination date.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 70% downside threshold, in which case investors will lose 1% for each 1% decline of the stock from its initial share price.
The notes are guaranteed by Citigroup Inc.
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 stock: | Wells Fargo & Co.
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| Amount: | $18,546,930
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| Maturity: | April 24, 2025
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| Coupon: | 10.75% annualized, payable quarterly if stock closes at or above downside threshold level on the corresponding determination date
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| Price: | Par of $10
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| Payout at maturity: | If stock finishes at or above downside threshold, par plus final coupon; otherwise, full exposure to decline from initial share price
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| Call: | At par plus contingent coupon if stock closes at or above initial level on any quarterly determination date
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| Initial share price: | $47.17
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| Downside threshold: | $33.019; 70% 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. with Morgan Stanley Wealth Management as dealer
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| Fees: | 2.5%
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| Cusip: | 17330M460
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