By Wendy Van Sickle
Columbus, Ohio, Jan. 11 – Citigroup Global Markets Holdings Inc. priced $1 million of contingent coupon autocallable notes due Jan. 7, 2021 linked to Wells Fargo & Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.5% if the underlying stock closes at or above its 70% coupon barrier on the observation date for that period.
The notes will be called at par if the stock closes at or above its initial level on any observation date after six months.
The payout at maturity will be par unless the stock closes below its 70% barrier level, in which case investors will receive 21.47305 Wells Fargo shares or, at the issuer’s option, cash
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: | Contingent coupon autocallable notes
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| Underlying assets: | Wells Fargo & Co.
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| Amount: | $1 million
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| Maturity: | Jan. 7, 2021
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| Coupon: | 9.5% annualized, payable monthly if stock closes at or above 70% coupon barrier on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless stock closes below 70% barrier level, in which case investors will receive 21.47305 Wells Fargo shares or, at the issuer’s option, cash
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| Call: | At par if stock closes at or above initial level on any observation date after six months
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| Initial level: | $46.57
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| Barrier level: | $32.599, 70% of initial level
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| Pricing date: | Jan. 4
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| Settlement date: | Jan. 9
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17324XKH2
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