Chicago, Nov. 28 – Citigroup Global Markets Holdings Inc. priced $10 million of contingent income autocallable securities due Nov. 29, 2024 linked to the common stock of Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.2%, paid monthly, if the underlying stock closes at or above its 80% downside threshold on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Dec. 21 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the stock declines by more than its 20% buffer in which case investors will lose 125% of the decline beyond the buffer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management was structurer.
| 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: | Microsoft Corp.
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| Amount: | $10 million
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| Maturity: | Nov. 29, 2024
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| Coupon: | 11.2% annual rate, paid monthly, if the underlying stock closes at or above its 80% downside threshold on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the stock declines by more than its buffer in which case investors will lose 125% of the decline beyond the buffer
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| Call: | Automatically starting Dec. 21 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial level: | $377.44
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| Buffer level: | $301.952,80% of initial level
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| Buffer: | 20%
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| Downside leverage: | 125%
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| Pricing date: | Nov. 21
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| Settlement date: | Nov. 27
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| Agent: | Citigroup Global Markets Inc.
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| Structurer: | Morgan Stanley Wealth Management
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| Fees: | 0.1%
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| Cusip: | 17291TJX7
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