By William Gullotti
Buffalo, N.Y., Dec. 9 – Citigroup Global Markets Holdings Inc. priced $3.2 million of autocallable contingent coupon equity-linked securities due Dec. 6, 2024 linked to the worst performing of the stocks of Nvidia Corp., Bank of America Corp. and Tesla, 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 monthly coupon at an annual rate of 13.5% if each stock closes at or above its coupon barrier price, 60% of its initial share price, on the valuation date for that period. Previously unpaid coupons, if any, will be automatically included whenever a coupon payment is made.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial share price on any monthly valuation date after three months.
If the notes are not called and each stock finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon barrier but at or above its final barrier price, 50% of its initial share price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the 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: | Nvidia Corp., Bank of America Corp., Tesla, Inc.
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| Amount: | $3,204,000
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| Maturity: | Dec. 6, 2024
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| Coupon: | 13.5% annualized rate, payable monthly if each stock closes at or above coupon barrier price on valuation date for that period; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each stock finishes at or above coupon barrier; if worst performer finishes below its coupon barrier but not below final barrier, par; 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 monthly valuation date after three months
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| Initial share prices: | $306.93 for Nvidia, $43.87 for BofA, $1,014.97 for Tesla
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| Coupon barrier prices: | $184.158 for Nvidia, $26.322 for BofA, $608.982 for Tesla; 60% of initial share prices
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| Final barrier prices: | $153.465 for Nvidia, $21.935 for BofA, $507.485 for Tesla; 50% of initial share prices
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| Pricing date: | Dec. 3
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| Settlement date: | Dec. 8
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17329UD57
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