By William Gullotti
Buffalo, N.Y., Nov. 3 – Citigroup Global Markets Holdings Inc. priced $7.08 million of autocallable contingent coupon equity-linked securities due Oct. 30, 2024 linked to the least performing of the stocks of Charles Schwab Corp. and Robinhood Markets, 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 annual rate of 15% if each stock closes at or above its coupon barrier price, 60% 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 final barrier price, 60% of its initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial share price.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Charles Schwab Corp., Robinhood Markets, Inc.
|
| Amount: | $7,075,000
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| Maturity: | Oct. 30, 2024
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| Coupon: | 15% annualized rate, payable quarterly if each stock closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each stock finishes at or above final barrier price; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial share price
|
| 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: | $81.15 for Schwab, $35.44 for Robinhood
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| Coupon barrier prices: | $48.69 for Schwab, $21.264 for Robinhood; 60% of initial share prices
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| Final barrier prices: | $48.69 for Schwab, $21.264 for Robinhood; 60% of initial share prices
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| Pricing date: | Oct. 27
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| Settlement date: | Oct. 29
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
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| Cusip: | 17329UDY4
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