Chicago, Dec. 2 – Citigroup Global Markets Holdings Inc. priced $785,000 of autocallable phoenix securities due April 5, 2023 linked to the shares of AGCO Corp., 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 15.55% if the stock closes at or above its 70% coupon barrier on the related quarterly observation date, in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on any quarterly valuation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the stock finishes below the 70% barrier level, in which case investors will be fully exposed to the losses of the stock.
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 phoenix securities
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| Underlying stock: | AGCO Corp.
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| Amount: | $785,000
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| Maturity: | April 5, 2023
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| Coupon: | 15.55% annualized, payable each quarter that stock closes at or above coupon barrier on determination date for that quarter, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless the stock finishes below barrier level, in which case full exposure to losses of stock
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| Call: | At par plus contingent coupon if stock closes at or above initial price on any quarterly valuation date
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| Initial share price: | $132.46
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| Coupon barrier: | $92.722, 70% of initial price
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| Barrier level: | $92.722, 70% of initial price
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17330AM33
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