By Kiku Steinfeld
Chicago, Nov. 30 – Citigroup Global Markets Holdings Inc. priced $475,000 of 5% autocallable equity-linked securities due Nov. 10, 2021 tied to the common stocks of Microsoft Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Interest is payable quarterly.
The notes will be automatically redeemed at par if both stocks close at or above their initial prices on May 6, 2021 or Aug. 6, 2021.
The payout at maturity will be par unless any stock finishes below its initial price and ever closes below its knock in level, 60% of its initial price, in which case investors will receive a fixed number of shares of the worst performer equal to its equity ratio divided by the initial price or, at the issuer’s option, the cash equivalent.
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 equity-linked securities
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| Underlying stocks: | Microsoft Corp. and Walmart Inc.
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| Amount: | $475,000
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| Maturity: | Nov. 10, 2021
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| Coupon: | 5% per year, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its initial price and ever closes below its knock in level, 60% of its initial price, in which case full exposure to losses of worst performer, payable in either shares or cash
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| Call: | At par if each stocks closes at or above initial price on May 6, 2021 or Aug. 6, 2021
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| Initial prices: | $223.72 for Microsoft and $145.77 for Walmart
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| Downside thresholds: | $134.232 for Microsoft and $87.462 for Walmart, 60% of initial prices
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| Equity ratios: | 4.46987 for Microsoft and 6.86012 for Walmart
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| Pricing date: | Nov. 6
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| Settlement date: | Nov. 12
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324X5A4
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