By William Gullotti
Buffalo, N.Y., March 22 – Citigroup Global Markets Holdings Inc. priced $1.91 million of 0% market-linked securities – autocallable with contingent coupon with memory feature and contingent downsidedue March 19, 2026 linked to Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly interest payment at the rate of 17% per year if the stock closes at or above the coupon barrier level, 50% of the initial level, on the observation date for that period. Previously unpaid interest, if any, will be automatically included whenever an interest payment is paid.
The notes will be automatically called at par plus coupon if the stock closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon if the stock finishes at or above its 50% threshold level.
Otherwise, investors will lose 1% for every 1% that the stock declines from its initial level.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Market-linked securities – autocallable with contingent coupon with memory feature and contingent downside
|
| Underlying stock: | Tesla, Inc.
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| Amount: | $1,906,000
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| Maturity: | March 19, 2026
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| Coupon: | 17% annual rate, payable quarterly if the stock closes at or above coupon barrier level on the relevant observation date; coupon payment events will automatically include any previously unpaid coupons
|
| Level: | Par
|
| Payout at maturity: | Par plus final coupon if stock finishes at or above threshold level; otherwise, full exposure to decline from initial level
|
| Call: | Automatically at par plus coupon if the stock closes at or above initial level on any quarterly observation date after six months
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| Initial level: | $184.13
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| Coupon barrier: | $92.065; 50% of initial level
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| Threshold level: | $92.065; 50% of initial level
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| Pricing date: | March 16
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| Settlement date: | March 21
|
| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
|
| Fees: | 2.325%
|
| Cusip: | 17331CWN3
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