New York, March 5 – Citigroup Global Markets Holdings Inc. priced $16.59 million of contingent income autocallable securities due Feb. 26, 2027 linked to the common stock of Avis Budget Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16%, paid quarterly, if the underlying stock closes at or above its 50% downside threshold on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting May 23 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the stock closes below its 50% downside threshold level in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley will act as distributor.
| 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: | Avis Budget Group, Inc.
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| Amount: | $16,588,000
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| Maturity: | Feb. 26, 2027
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| Coupon: | 16%, paid quarterly, if the underlying stock closes at or above its 50% downside threshold on the related quarterly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
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| Call: | Automatically starting May 23 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial level: | $105.04
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| Downside threshold: | $52.52, 50% of initial level
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | Citigroup Global Markets Inc.
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| Distributor: | Morgan Stanley
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| Fees: | 2.25%
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| Cusip: | 17291LFD2
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