By Kiku Steinfeld
Chicago, Dec. 17 – Citigroup Global Markets Holdings Inc. priced $2 million of autocallable contingent coupon equity-linked securities due Dec. 14, 2021 linked to the least performing of the common stocks of Target Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each underlying stock closes at or above its 74% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the coupon unless either stock finishes below its 74% trigger level, in which case investors will receive a number of shares of the least performing stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
The notes are guaranteed by Citigroup Inc.
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 stocks: | Target Corp. and Walmart Inc.
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| Amount: | $1,999,000
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| Maturity: | Dec. 14, 2021
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| Coupon: | 8% annualized, payable quarterly if each stock closes at or above 74% coupon barrier on review date for that period
|
| Price: | Par
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| Payout at maturity: | If each stock finishes at or above 74% trigger level, par plus coupon; otherwise, a number of shares of least performing stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent
|
| Call: | At par if each stock closes at or above its initial level on any quarterly observation date
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| Initial levels: | $174.07 for Target and $148.27 for Walmart
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| Barrier levels: | $128.812 for Target and $109.720 for Walmart; 74% of initial levels
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| Equity ratios: | 5.74482 for Target and 6.74445 for Walmart
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| Pricing date: | Dec. 9
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| Settlement date: | Dec. 14
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328NBG2
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