By Wendy Van Sickle
Columbus, Ohio, Jan. 17 – Citigroup Global Markets Holdings Inc. priced $3.63 million of autocallable contingent coupon equity-linked securities due Jan. 20, 2023 linked to the least performing of the common stocks of United Parcel Service, Inc. and FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 8.5% per year if the least-performing stock closes at or above its coupon barrier value, 60% of its initial share price, on the valuation date for that quarter.
The notes will be automatically called at par if the least-performing stock closes at or above its initial share price on any quarterly valuation date after six months.
The payout at maturity will be par unless the least-performing stock finishes below its final barrier value, 60% of its initial share price, in which case investors will have full exposure to loss of least-performing stock.
The notes are guaranteed by Citigroup Inc.
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: | United Parcel Service, Inc. and FedEx Corp.
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Amount: | $3,626,000
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Maturity: | Jan. 20, 2023
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Coupon: | 8.5% per year, payable quarterly if least-performing stock closes at or above coupon barrier value on valuation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless least-performing stock finishes below final barrier value, in which case full exposure to loss of least-performing stock
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Call: | Automatically at par if least-performing stock closes at or above initial share price on any quarterly valuation date after six months
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Initial share prices: | $117.93 for UPS, $159.15 for FedEx
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Coupon barriers: | $70.758 for UPS, $95.49 for FedEx, or 60% of initial share prices
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Barrier values: | $70.758 for UPS, $95.49 for FedEx, or 60% of initial share prices
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Pricing date: | Jan. 15
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Settlement date: | Jan. 21
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2.5%
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Cusip: | 17327T6A9
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