By William Gullotti
Buffalo, N.Y., Dec. 28 – Citigroup Global Markets Holdings Inc. priced $1.64 million of 0% market-linked securities – autocallable with contingent coupon with memory feature and contingent downside due Dec. 24, 2026 linked to the stock performance of Deere & Co., Emerson Electric Co. and NextEra Energy, 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 13.25% per year if each stock closes at or above the coupon barrier level, 65% 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 each 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 each stock finishes at or above its coupon barrier.
If the worst performer finishes below the coupon barrier but at or above its 60% threshold level, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the agents.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Market-linked securities – autocallable with contingent coupon with memory feature and contingent downside
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Underlying stocks: | Deere & Co., Emerson Electric Co., NextEra Energy, Inc.
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Amount: | $1,641,000
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Maturity: | Dec. 24, 2026
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Coupon: | 13.25% annual rate, payable quarterly if each stock closes at or above coupon barrier level on the relevant observation date; coupon payment events will automatically include any previously unpaid coupons
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Level: | Par
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Payout at maturity: | Par plus final coupon if each stock finishes at or above coupon barrier; if worst performer finishes below coupon barrier but at or above threshold level, par; otherwise, full exposure to decline of worst performer from initial level
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Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly observation date after six months
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Initial levels: | $387.26 for Deere, $94.66 for Emerson, $59.84 for NextEra
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Coupon barriers: | $251.719 for Deere, $61.529 for Emerson, $38.896 for NextEra; 65% of initial levels
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Threshold levels: | $232.356 for Deere, $56.796 for Emerson, $35.904 for NextEra; 60% of initial levels
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Pricing date: | Dec. 20
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Settlement date: | Dec. 26
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Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
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Fees: | 2.325%
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Cusip: | 17291TLU0
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