By Kiku Steinfeld
Chicago, Oct. 28 – Citigroup Global Markets Holdings Inc. priced $4.03 million of autocallable contingent coupon equity-linked securities due April 21, 2023 linked to the worst performing of the stocks of Lyft, Inc. and FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon plus any previously unpaid coupons at an annual rate of 12% if each stock closes at or above its coupon barrier price, 62% of its initial share price, on the valuation date for that quarter.
The notes will be automatically called at par if each stock closes at or above its initial level on any quarterly valuation date.
If the notes are not called and each stock finishes at or above its final barrier price, 62% of its initial share price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the losses of the worst performer, payable either in shares or cash at the option of the issuer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Lyft, Inc. and FedEx Corp.
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| Amount: | $4,033,000
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| Maturity: | April 21, 2023
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| Coupon: | 12% annualized rate, payable quarterly plus any previously unpaid coupons if each stock closes at or above coupon barrier price on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par if each stock closes at or above final barrier price; otherwise, full exposure to losses of worst performer payable in stock or cash at the issuer’s election
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| Call: | Automatically at par if each stock closes at or above initial level on any quarterly valuation date
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| Initial share prices: | $227.98 for FedEx and $50.47 for Lyft
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| Coupon barrier prices: | $141.348 for FedEx and $31.291 for Lyft, 62% of initial share prices
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| Final barrier prices: | $141.348 for FedEx and $31.291 for Lyft, 62% of initial share prices
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| Equity ratios: | 4.38635 for FedEx and 19.81375 for Lyft
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| Pricing date: | Oct. 15
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| Settlement date: | Oct. 20
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17328ND96
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