By Sarah Lizee
Olympia, Wash., Feb. 28 – Citigroup Global Markets Holdings Inc. priced $3.23 million of autocallable contingent coupon equity-linked securities due Feb. 25, 2022 linked to the common stock of Las Vegas Sands Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10.4% per year if the stock closes at or above its barrier value, 65% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if the stock closes at or above its initial share price on any quarterly valuation date after six months.
If the final share price is greater than or equal to the barrier value, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the stock.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stock: | Las Vegas Sands Corp.
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| Amount: | $3,234,000
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| Maturity: | Feb. 25, 2022
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| Coupon: | 10.4% per year, payable quarterly if stock closes at or above barrier value on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless final share price is less than barrier value, in which case investors will be fully exposed to stock’s decline
|
| Call: | Automatically at par plus coupon if stock closes at or above initial share price on any quarterly valuation date after six months
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| Initial share price: | $65.60
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| Barrier value: | $42.640, or 65% of initial share price
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 26
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17324XWR7
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