New Issue: Citigroup prices $2.5 million contingent coupon autocallables on two stocks

By Kiku Steinfeld

Chicago, Nov. 3 – Citigroup Global Markets Holdings Inc. priced $2.5 million of autocallable contingent coupon equity-linked securities due Oct. 28, 2021 linked to the least performing of the common stocks of DraftKings Inc. and Penn National Gaming, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes pay a contingent coupon at the rate of 38% per year if the least-performing stock closes at or above its coupon barrier value, 50% of its initial share price, on the valuation date for that quarter, in which case any previously unpaid coupons will be paid.

The notes will be automatically called at par if the least-performing stock closes at or above its initial share price on any quarterly valuation date.

The payout at maturity will be par unless the least-performing stock finishes below its final barrier value, 50% of its initial share price, in which case investors will receive a number of its equity ratio or, at the issuer’s option, the cash equivalent.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Issue:	Autocallable contingent coupon equity-linked securities
Underlying stocks:	DraftKings Inc. and Penn National Gaming, Inc.
Amount:	$2,500,000
Maturity:	Oct. 28, 2021
Coupon:	38% per year, payable quarterly if least-performing stock closes at or above coupon barrier value on valuation date for that quarter, in which case any previously unpaid coupons will be paid
Price:	Par
Payout at maturity:	Par unless least-performing stock finishes below final barrier value, in which case investors will receive a number of shares equal to its equity ratio or, at issuer’s option, cash equivalent
Call:	Automatically at par if least-performing stock closes at or above initial share price on any quarterly valuation date
Initial share prices:	$42.74 for DraftKings, $62.80 for Penn
Coupon barriers/final barriers:	$21.370 for DraftKings, $31.400 for Penn, or 50% of initial share prices
Equity ratios:	23.39729 for DraftKings, 15.92357 for Penn
Pricing date:	Oct. 23
Settlement date:	Oct. 28
Underwriter:	Citigroup Global Markets Inc.
Fees:	1.25%
Cusip:	17324X5W6

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