By Kiku Steinfeld
Chicago, March 10 – Citigroup Global Markets Holdings Inc. priced $1.27 million of autocallable contingent coupon equity-linked securities due Sept. 19, 2024 linked to the stock performance 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 annualized rate of 13.75% if the stock closes at or above the coupon barrier price, 70% 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 85% of its initial share price on any quarterly valuation date after six months.
If the notes are not called and the final share price is greater than or equal to the 70% 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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stock: | Wayfair, Inc.
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| Amount: | $1.27 million
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| Maturity: | Sept. 19, 2024
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| Coupon: | 13.75% annually, payable quarterly, if stock closes at or above coupon barrier price on valuation date for that period
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| Price: | Par
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| 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
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| Call: | Automatically at par plus contingent coupon if stock closes at or above 85% of its initial level on any quarterly valuation date after six months
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| Initial share price: | $266.37
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| Coupon barrier price: | $186.459; 70% of initial level
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| Final barrier price: | $186.459; 70% of initial level
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| Pricing date: | Sept. 14
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| Settlement date: | Sept. 17
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17329QWR7
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