By Wendy Van Sickle
Columbus, Ohio, June 3 – Citigroup Global Markets Holdings Inc. priced $10 million of 0% jump securities with autocallable feature due June 3, 2024 linked to the worst performing of the common stocks of FedEx Corp. and JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called at par plus an annualized premium of 16.35% if each stock closes at or above its initial level on any quarterly call date after one year.
The payout at maturity will be par plus 65.4% if each stock finishes at or above its initial level. If the worst performing stock declines by no more than 40%, the payout will be par. If the worst performing stock finishes below its 60% downside threshold level, investors will be fully exposed to the decline of that stock.
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: | Jump securities with autocallable feature
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| Underlying stocks: | FedEx Corp. and JPMorgan Chase & Co.
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| Amount: | $10 million
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| Maturity: | June 3, 2024
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 16.35% a year if each stock closes at or above initial level on any quarterly call review date after one year
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| Payout at maturity: | If each stock finishes at or above initial level, par plus 65.4%; if worst performing stock falls by up to 40%, par; otherwise, full exposure to decline of worst performing stock
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| Initial levels: | $131.15 for FedEx, $99.86 for JPMorgan
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| Downside thresholds: | $78.69 for FedEx, $59.916 for JPMorgan; 60% of initial levels
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| Pricing date: | May 29
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| Settlement date: | June 3
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| Agent: | Citigroup Global Markets Inc.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.82%
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| Cusip: | 17327Y766
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