By Taylor Fox
New York, Oct. 5 – Citigroup Global Markets Holdings Inc. priced $630,000 of autocallable contingent coupon equity-linked securities due March 17, 2023 linked to the common stock of Slack Technologies, Inc., 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 annualized rate of 14% if underlier closes at or above the barrier price, 70% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if Slack shares close at or above 90% of the initial share price on any quarterly autocall date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the shares finish below the 70% final barrier level, in which case investors will be fully exposed to the decline of the stock.
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 equity-linked securities
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| Underlying stock: | Slack Technologies, Inc.
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| Amount: | $630,000
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| Maturity: | March 17, 2023
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| Coupon: | 14% per year, payable quarterly if closing price of Slack shares is greater than or equal to barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless shares finish below final barrier level, in which case, full exposure to decline of the stock
|
| Call: | At par plus contingent coupon if closing share price is greater than or equal to 90% of initial share price on any valuation date
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| Initial share price: | $25.69
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| Call values: | $23.121, 90% of initial share price
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| Barrier price: | $17.983, 70% of initial share price
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| Pricing date: | Sept. 14
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| Settlement date: | Sept. 17
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17328WJV1
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