By Taylor Fox
New York, Jan. 28 – Citigroup Global Markets Holdings Inc. priced $2 million of autocallable contingent coupon equity-linked securities due Jan. 27, 2022 linked to the stock of Walgreens Boots Alliance, 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 8.25% if the stock closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that quarter.
The notes will be automatically called at par plus the coupon if the stock closes at or above its initial price on any quarterly valuation date.
If the notes are not called and the stock finishes at or above final barrier price, 70% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will receive a number of share of stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stock: | Walgreens Boots Alliance, Inc.
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| Amount: | $2 million
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| Maturity: | Jan. 27, 2022
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| Coupon: | 8.25% annualized rate, payable quarterly if stock closes at or above coupon barrier price on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if stock closes at or above final barrier price; otherwise, 21.07482 shares of Walgreens Boots stock or, at issuer’s option, cash equivalent
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| Call: | Automatically at par plus coupon if stock closes at or above initial level on any quarterly valuation date
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| Initial level: | $47.45
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| Coupon barrier price: | $33.215, 70% of initial levels
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| Barrier price: | $33.215, 70% of initial levels
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| Equity ratio: | 21.07482
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 27
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328NFD5
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