By William Gullotti
Buffalo, N.Y., April 18 – Citigroup Global Markets Holdings Inc. priced $1.88 million of autocallable contingent coupon equity-linked securities due May 16, 2023 linked to the stock performance of Alphabet 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 annualized rate of 10.35% if the stock closes at or above the coupon barrier price, 75% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the stock close at or above the initial share price on any monthly valuation date after six months.
If the notes are not called and the final share price is greater than or equal to the 75% final barrier price, the payout at maturity will be par plus the final coupon. Otherwise, investors be fully exposed to the stock’s decline from its initial share price.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stock: | Alphabet Inc.
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| Amount: | $1,879,000
|
| Maturity: | May 16, 2023
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| Coupon: | 10.35% annually, payable monthly, if stock closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and final share price is greater than or equal to final barrier price, par plus final coupon; otherwise, lose 1% for every 1% decline from initial share price
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any monthly valuation date after six months
|
| Initial share price: | $2,595.93
|
| Coupon barrier price: | $1,946.948; 75% of initial level
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| Final barrier price: | $1,946.948; 75% of initial level
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| Pricing date: | April 11
|
| Settlement date: | April 14
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.65%
|
| Cusip: | 17330FAP6
|
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