By Angela McDaniels
Tacoma, Wash., Jan. 29 – Citigroup Global Markets Holdings Inc. priced $5.5 million of contingent income autocallable securities due Jan. 28, 2022 linked to the common stock of CVS Health Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If CVS Health shares close at or above the downside threshold level, 75% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 11.25%.
The notes will be called at par of $10 plus the contingent coupon if CVS Health shares close at or above the initial share price on any quarterly determination date other than the final determination date.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | CVS Health Corp. (Symbol: CVS)
|
| Amount: | $5,502,860
|
| Maturity: | Jan. 28, 2022
|
| Coupon: | 11.25% per year, payable quarterly if CVS Health shares close at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | At par plus contingent coupon if CVS Health shares close at or above initial share price on any quarterly determination date other than final determination date
|
| Initial share price: | $65.45
|
| Downside threshold: | $49.088, 75% of initial share price
|
| Pricing date: | Jan. 25
|
| Settlement date: | Jan. 30
|
| Agent: | Citigroup Global Markets Inc.
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 17326W621
|
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