By Susanna Moon
Chicago, June 25 – Citigroup Global Markets Holdings Inc. priced $4.79 million of contingent income autocallable securities due June 18, 2021 linked to BlackRock, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.9% if the stock closes at or above the 80% downside threshold level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its call level on any valuation date other than the final date. The call level will be 105% of the initial share price for the first year, stepping up to 110% of the initial level in the second year and to 115% of the initial level in the third year.
The payout at maturity will be par unless the stock finishes below its 80% downside threshold, in which case investors will lose 1% for each 1% decline.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter with Morgan Stanley Wealth Management as a dealer.
| 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: | BlackRock, Inc. (Symbol: BLK)
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| Amount: | $4,789,450
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| Maturity: | June 18, 2021
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| Coupon: | 8.9% annualized, payable each quarter if stock closes at or above downside threshold level on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes above downside threshold, par; otherwise, full exposure to decline
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| Call: | At par plus contingent coupon if stock closes at or above call level on any valuation date other than the final date; call level will be 105% of initial level for first year, stepping up to 110% of initial level in second year and to 115% of initial level in third year
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| Initial share price: | $524.52
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| Downside threshold: | $419.616, 80% of initial level
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| Pricing date: | June 15
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| Settlement date: | June 20
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| Agent: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as dealer
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| Fees: | 2%
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| Cusip: | 17326K510
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