By Kiku Steinfeld
Chicago, July 25 – Citigroup Global Markets Holdings Inc. priced $250,000 of autocallable contingent coupon equity-linked securities due Jan. 11, 2023 linked to the worst performing of the stocks of SoFi Technologies, Inc. and Trade Desk, 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 annual rate of 30% if each stock closes at or above its coupon barrier price, 55% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial share price on any monthly valuation date after three months.
If the notes are not called and each stock finishes at or above its final barrier price, 55% of its initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will receive a number of shares of the worst performer equal to $1,000 divided by that stock’s initial share price or, at the issuer’s option, the cash equivalent.
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 stocks: | SoFi Technologies, Inc. and Trade Desk, Inc.
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| Amount: | $250,000
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| Maturity: | Jan. 11, 2023
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| Coupon: | 30% annualized rate, payable monthly if each 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: | Par plus final coupon if each stock finishes at or above final barrier price; otherwise, investors will receive a number of shares of worst performer equal to that stock’s equity ratio or, at the issuer’s option, the cash equivalent
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly valuation date after three months
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| Initial share prices: | $15.05 for SoFi, $85.36 for Trade Desk
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| Coupon barrier prices: | $8.278 for SoFi, $46.948 for Trade Desk; 55% of initial share prices
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| Final barrier prices: | $8.278 for SoFi, $46.948 for Trade Desk; 55% of initial share prices
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| Equity ratios: | 66.44518 for SoFi, 11.71509 for Trade Desk
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| Strike date: | Jan. 4
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| Pricing date: | Jan. 6
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| Settlement date: | Jan. 11
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17328NS74
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