By Wendy Van Sickle
Columbus, Ohio, March 11 – Citigroup Global Markets Holdings Inc. priced $1.67 million of autocallable contingent coupon notes due March 11, 2024 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 9.7245% if each underlying stock closes at or above its 60% 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 call observation date after six months.
The payout at maturity will be par plus the coupon unless either stock finishes below its 60% 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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying stocks: | Target Corp. and Walmart Inc.
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| Amount: | $1,666,000
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| Maturity: | March 11, 2024
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| Coupon: | 9.7245% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above 60% 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
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| Call: | At par if each stock closes at or above its initial level on any quarterly call observation date after six months
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| Initial levels: | $76.90 for Target and $98.26 for Walmart
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| Barrier levels: | $46.14 for Target and $58.956 for Walmart; 60% of initial levels
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| Pricing date: | March 6
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| Settlement date: | March 11
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17326YM78
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