By Wendy Van Sickle
Columbus, Ohio, Jan. 27 – Citigroup Global Markets Holdings Inc. priced $3 million of autocallable contingent coupon equity-linked securities due Jan. 24, 2025 linked to the least performing of the common stocks of FedEx Corp. and United Parcel Service, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 9% 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.
After one year, 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.
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: | FedEx Corp. and United Parcel Service, Inc.
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Amount: | $3 million
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Maturity: | Jan. 24, 2025
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Coupon: | 9% 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: | After one year, automatically at par if least-performing stock closes at or above initial share price on any quarterly valuation date
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Initial share prices: | $157.53 for FedEx, $117.39 for UPS
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Coupon barriers: | $94.518 for FedEx, $70.434 for UPS, or 60% of initial share prices
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Barrier values: | $94.518 for FedEx, $70.434 for UPS, or 60% of initial share prices
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Pricing date: | Jan. 21
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Settlement date: | Jan. 24
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3.35%
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Cusip: | 17327TV37
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