New York, March 14 – Citigroup Global Markets Holdings Inc. priced $12 million of contingent income autocallable securities due March 13, 2025 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 10.8%, paid quarterly, if the underlying stock closes at or above its 80% downside threshold on the related quarterly observation date, plus any previously unpaid coupons.
The securities 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 quarterly review date.
At maturity, the payout will be par unless the stock declines by more than 20%, in which case 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. Morgan Stanley Wealth Management 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: | Microsoft Corp.
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| Amount: | $12 million
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| Maturity: | March 13, 2025
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| Coupon: | 10.8%, paid quarterly, if the underlying stock closes at or above its 80% 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 declines by more than 20%, in which case investors will lose 1.25% for every 1% decline 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 quarterly review date
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| Initial level: | $402.09
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| Buffer: | 20%
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| Downside leverage: | 125%
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| Downside threshold: | $321.672, 80% of initial level
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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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| Distributor: | Morgan Stanley Wealth Management
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| Fees: | 0.1%
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| Cusip: | 17291LR49
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