By Wendy Van Sickle
Columbus, Ohio, July 13 – Citigroup Global Markets Holdings Inc. priced $10 million of contingent income autocallable securities due July 9, 2024 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 21.6%, paid quarterly, if the underlying stock closes at or above its 70% downside threshold on the related quarterly observation date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The securities will be called automatically at par if the stock closes at or above its initial level on any quarterly valuation date.
At maturity, the payout will be par unless the stock finishes below its 70% downside threshold level, in which case investors will lose 1.42857% for each 1% decline of the stock beyond 30%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management is the 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: | Tesla, Inc.
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| Amount: | $10 million
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| Maturity: | July 9, 2024
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| Coupon: | 21.6%, paid quarterly, if the underlying stock closes at or above its 70% downside threshold on the related quarterly observation date; coupon payment events will automatically include any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the stock finishes below its downside threshold level, in which case investors will lose 1.42857% for each 1% decline of the stock beyond 30%
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| Call: | Automatically at par if the stock closes at or above its initial level on any quarterly valuation date
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| Initial level: | $257.50
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| Downside threshold: | $180.25, 70% of initial level
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| Strike date: | June 29
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | Citigroup Global Markets Inc.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.1% including a structuring fee of 0.05%
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| Cusip: | 17291RM41
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