By William Gullotti
Buffalo, N.Y., Sept. 29 – Citigroup Global Markets Holdings Inc. priced $2.57 million of autocallable contingent coupon equity-linked securities due July 11, 2025 linked to the worst performing of the stocks of Alibaba Group Holding Ltd. and Fiserv, Inc., 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 at an annual rate of 5.8% if each stock closes at or above its coupon barrier price, 50% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial share price on any quarterly autocall date after one year.
If the notes are not called and each stock finishes at or above its final barrier price, 50% of its initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial share price.
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: | Alibaba Group Holding Ltd., Fiserv, Inc.
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| Amount: | $2,572,000
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| Proceeds: | $2,565,570
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| Maturity: | July 11, 2025
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| Coupon: | 5.8% annualized rate, payable quarterly if each stock closes at or above coupon barrier price on valuation date for that period
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| Price: | 99.75
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| Payout at maturity: | Par plus final coupon if each stock closes at or above final barrier price; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial share price
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly valuation date after one year
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| Initial share prices: | $199.85 for Alibaba, $107.74 for Fiserv
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| Coupon barrier prices: | $99.925 for Alibaba, $53.87 for Fiserv; 50% of initial share prices
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| Final barrier prices: | $99.925 for Alibaba, $53.87 for Fiserv; 50% of initial share prices
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| Pricing date: | July 8
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| Settlement date: | July 13
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17329Q5N6
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