By Taylor Fox
New York, Feb. 16 – Citigroup Global Markets Holdings Inc. priced $974,000 of 14.8% autocallable equity-linked securities due Jan. 24, 2024 tied to the common stock of Overstock.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable quarterly.
The notes will be automatically redeemed at par plus the coupon if the shares close at or above the initial price on any quarterly observation date after six months.
The payout at maturity will be par if the stock finishes above its 50% barrier level.
Otherwise, investors will be fully exposed to any losses of the stock.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable equity-linked securities
|
| Underlying stock: | Overstock.com, Inc.
|
| Amount: | $974,000
|
| Maturity: | Jan. 24, 2024
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| Coupon: | 14.8%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par if stock closes above final barrier level; otherwise, 1% loss for each 1% decline from initial level of stock
|
| Call: | At par plus the coupon if shares close at or above the initial price any quarterly observation date after six months
|
| Initial price: | $62.94
|
| Final barrier level: | $31.47, 50% of initial price
|
| Pricing date: | Jan. 19
|
| Settlement date: | Jan. 22
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.35%
|
| Cusip: | 17328YCA0
|
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