By Taylor Fox
New York, Oct. 29 – Citigroup Global Markets Holdings Inc. priced $4.1 million of autocallable contingent coupon equity-linked securities due Oct. 4, 2023 linked to the common stocks of Costco Wholesale Corp. and Walt Disney Co., 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 all previously unpaid contingent coupon payments at an annualized rate of 8% if the worst performing stock closes at or above the barrier price, 69% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon payment if the shares of both stocks close at or above the initial share prices on any quarterly valuation date after six months.
If the notes are not called, the payout at maturity will be par unless the shares finish below the 69% final barrier level, in which case investors will receive a number of shares equal to the principal divided by the initial share price or the cash equivalent.
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: | Costco Wholesale Corp. and Walt Disney Co.
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| Amount: | $4,102,000
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| Maturity: | Oct. 4, 2023
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| Coupon: | 8% per year, payable quarterly plus all previously unpaid contingent coupon payments if the worst performing stock is greater than or equal to barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless shares of either stock finish below final barrier level, in which case, number of shares equal to principal divided by initial share price or cash equivalent
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| Call: | At par plus contingent coupon if both closing share prices are greater than or equal to initial share price on any quarterly valuation date after six months
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| Initial share prices: | $352.14 for Costco and $125.4 for Disney
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| Coupon barrier prices: | $242.977 for Costco and $86.526 for Disney, 69% of initial share prices
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| Barrier price: | $242.977 for Costco and $86.526 for Disney, 69% of initial share prices
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 2
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17324XZ37
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