By Taylor Fox
New York, March 16 – Citigroup Global Markets Holdings Inc. priced $799,000 of 18% autocallable equity-linked notes due March 8, 2022 linked to the worst performing of the common stocks of Datadog, Inc., Exact Sciences Corp. and Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable monthly.
Beginning June 3, if all three stocks close at or above their initial levels on any monthly potential autocall date, the notes will be automatically called at par plus the coupon due.
If the worst-performing stock finishes at or above its barrier level, 60% of initial level, the payout will be par.
If the worst-performing stock finishes below its barrier level, investors will receive a number of shares of the worst performer equal to $1,000 divided by that stock’s initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable equity-linked securities
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| Underlying stocks: | Datadog, Inc., Exact Sciences Corp. and Wynn Resorts, Ltd.
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| Amount: | $799,000
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| Maturity: | March 8, 2022
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| Coupon: | 18%, payable monthly
|
| Price: | Par
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| Payout at maturity: | If worst-performing stock finishes at or above barrier level, par; if worst-performing stock finishes below barrier level, number of shares of worst performer equal to its equity ratio or, at issuer’s option, amount in cash equal to value of those shares
|
| Call: | Automatically at par plus coupon if all stocks close above their initial value on any monthly autocall date after three months
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| Initial levels: | $90 for Datadog, $126.57 for Exact Sciences and $135.62 for Wynn
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| Barrier levels: | $54 for Datadog, $75.942 for Exact Sciences and $81.372 for Wynn, 60% of initial levels
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| Equity ratios: | 11.11111 for Datadog, 7.90077 for Exact Sciences and 7.37354 for Wynn
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| Pricing date: | March 3
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| Settlement date: | March 8
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.875%
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| Cusip: | 17328NKR8
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