Chicago, July 24 – Citigroup Global Markets Holdings Inc. priced $7.51 million of autocallable contingent coupon equity-linked securities due Jan. 24, 2025 linked to the worst performing of the common stocks of Amazon.com, Inc. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.9% paid quarterly if the worst performing stock closes at or above its 55% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically starting Oct. 18 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent quarterly valuation date.
If the worst performing stock finishes at or above its 55% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing stock declines, payable in cash or shares at the issuer’s option.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| 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 stocks: | Amazon.com, Inc. and Apple Inc.
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| Amount: | $7,507,000
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| Maturity: | Jan. 24, 2025
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| Coupon: | 9.9% annual rate, paid quarterly if the worst performing stock closes at or above its 55% coupon barrier on the related valuation date, plus any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above final barrier par; 1% loss for every 1% that worst performing stock declines if it ends below final barrier, payable as shares or cash at issuer’s option
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| Call: | Automatically starting Oct. 18 if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent quarterly valuation date
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| Initial levels: | $132.83 for Amazon, $193.73 for Apple
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| Coupon barriers: | $73.057 for Amazon, $106.552 for Apple, 55% of initial levels
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| Final barriers: | $73.057 for Amazon, $106.552 for Apple, 55% of initial levels
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| Pricing date: | July 18
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| Settlement date: | July 21
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17331AEV9
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