Chicago, Jan. 7 – Citigroup Global Markets Holdings Inc. priced $1.56 million of autocallable contingent coupon equity-linked securities due April 5, 2023 linked to the worst performing of the stocks of Chewy, Inc., DraftKings Inc. and Walt Disney Co., 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 35.5% if each stock closes at or above its coupon barrier price, 70% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial share price on any quarterly valuation date after six months.
If the notes are not called and each stock finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon barrier but at or above its final barrier price, 70% of its initial share price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial share price payable in shares of the worst performer, of cash at the issuer’s option.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Chewy, Inc., DraftKings Inc. and Walt Disney Co.
|
| Amount: | $1,555,000
|
| Maturity: | April 5, 2023
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| Coupon: | 35.5% annualized rate, payable quarterly if each stock closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if each stock finishes at or above barrier; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial share price, payable in shares of worst performer or cash at the issuer’s option
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly valuation date after six months
|
| Initial share prices: | $84.71 for Chewy, $61.33 for DraftKings, $184.52 for Disney
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| Coupon barrier prices: | $59.297 for Chewy, $42.931 for DraftKings, $129.164 for Disney; 70% of initial share prices
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| Final barrier prices: | $59.297 for Chewy, $42.931 for DraftKings, $129.164 for Disney; 70% of initial share prices
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| Equity ratios: | 11.80498 for Chewy, 16.30523 for DraftKings, 5.41947 for Disney
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| Pricing date: | March 31
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| Settlement date: | April 6
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
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| Cusip: | 17328NMT2
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