New Issue: Citigroup sells $1 million equity-linked securities on Morgan Stanley, Goldman

By Kiku Steinfeld

Chicago, Oct. 6 – Citigroup Global Markets Holdings Inc. priced $1 million of equity-linked securities due Oct. 4, 2021 tied to the least performing of the shares of Morgan Stanley and Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes carry a coupon of 11.8% per year, payable monthly.

If the final level of each asset is at least as great as 80% of its initial level, the payout at maturity will be par. Otherwise, investors will receive a fixed number of shares of the worst performing underlying equal to its equity ratio or, if the issuer prefers, the cash value of those shares.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Equity-linked securities
Underlying assets:	Morgan Stanley and Goldman Sachs Group, Inc.
Amount:	$1 million
Maturity:	Oct. 4, 2021
Coupon:	11.8%, payable monthly
Price:	Par
Payout at maturity:	If each asset finishes at or above barrier, par; otherwise, a fixed number of shares of worst performing asset equal to its equity ratio or cash value
Initial levels:	$47.24 for Morgan Stanley, $196.79 for Goldman
Barrier/threshold levels:	$37.792 for Morgan Stanley, $157.432 Goldman; 80% of initial levels
Equity ratios:	21.16850 for Morgan Stanley, 5.08156 for Goldman
Pricing date:	Sept. 29
Settlement date:	Oct. 2
Underwriter:	Citigroup Global Markets Inc.
Fees:	1.25%
Cusip:	17324X3H1

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