By Kiku Steinfeld
Chicago, June 21 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable contingent coupon equity-linked securities due May 30, 2023 linked to the worst performing of the stocks of Coinbase Global, Inc. and MercadoLibre, 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 the coupon barrier price, 50% of the initial price, on the valuation date for that period, in which case any previously unpaid coupons will also be paid.
The notes will be automatically called at par if each stock closes at or above its initial price, on any quarterly valuation date.
If the notes are not called and each stock finishes at or above final barrier price, 50% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will receive shares of the worst performer equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Coinbase Global, Inc. and MercadoLibre, Inc.
|
| Amount: | $500,000
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| Maturity: | May 30, 2023
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| Coupon: | 15%, payable quarterly plus any previously unpaid coupons if each stock closes at or above coupon barrier price, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each stock closes at or above final barrier; otherwise, number of shares of the worst performer equal to the principal amount divided by initial share price of worst performing stock or, at issuer’s option, cash equivalent
|
| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly valuation date
|
| Initial levels: | $233.40 for Coinbase and $1,374.99 for MercadoLibre
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| Coupon barrier levels: | $116.700 for Coinbase and $687.495 for MercadoLibre; 50% of initial levels
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| Final barrier levels: | $116.700 for Coinbase and $687.495 for MercadoLibre; 50% of initial levels
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| Equity ratios: | 4.28449 for Coinbase and 0.72728 for MercadoLibre
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| Pricing date: | May 21
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| Settlement date: | May 28
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.2%
|
| Cusip: | 17328NRH3
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