By Taylor Fox
New York, March 17 – Citigroup Global Markets Holdings Inc. priced $1.31 million of autocallable contingent coupon equity-linked securities due March 8, 2024 linked to the stock of Wayfair, 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 16.55% if the stock closes at or above the coupon barrier price, 60% 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 85% of its initial price on any quarterly valuation date after six months.
If the notes are not called and the stock finishes at or above final barrier price, 60% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be 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
|
| Underlying stock: | Wayfair, Inc.
|
| Amount: | $1,310,000
|
| Maturity: | March 8, 2024
|
| Coupon: | 16.55% annualized rate, payable quarter if stock closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if stock finishes at or above final barrier price; otherwise, exposure to stock’s decline from initial share price
|
| Call: | Automatically at par plus coupon if stock closes at or above autocallable barrier price on any quarterly valuation date after six months
|
| Initial level: | $295.66
|
| Coupon barrier price: | $177.396, 60% of initial level
|
| Barrier price: | $177.396, 60% of initial level
|
| Autocallable barrier price: | $251.311, 85% of initial level
|
| Pricing date: | March 5
|
| Settlement date: | March 10
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.75%
|
| Cusip: | 17328YX74
|
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