New York, March 14 – Citigroup Global Markets Holdings Inc. priced $11 million of 11.1% autocallable phoenix securities due March 12, 2025 linked to the common stock of Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a coupon of 11.1%, paid monthly, if the stock closes at or above its 80% coupon barrier on the related valuation date, plus any previously unpaid coupons.
They will be called automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any monthly review date.
The payout at maturity will be par if the stock finishes at or above its 80% final barrier. Otherwise, investors will lose 1.25% for each 1% that the stock declines beyond 20%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are acting as placement agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable phoenix securities
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| Underlying stock: | Microsoft Corp.
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| Amount: | $11 million
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| Maturity: | March 12, 2025
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| Coupon: | 11.1%, paid monthly, if the stock closes at or above its 80% coupon barrier on the related valuation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above final barrier, par; otherwise, lose 1.25% for each 1% that the stock declines beyond 20%
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| Call: | Automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any monthly review date
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| Initial level: | $402.09
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| Final barrier: | $321.672, 80% of initial level
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| Coupon barrier: | $321.672, 80% of initial level
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| Downside leverage: | 125%
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| Strike date: | March 6
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| Pricing date: | March 7
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| Settlement date: | March 12
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| Agent: | Citigroup Global Markets Inc.
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 0.1%
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| Cusip: | 17291LWJ0
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