By Emma Trincal
New York, Nov. 4 – Citigroup Global Markets Holdings Inc. priced $1.84 million of 13.7% autocallable equity-linked securities due May 9, 2022 tied to the common stocks of Microsoft Corp., Moderna, Inc. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Interest is payable monthly.
The notes will be automatically redeemed at par plus the coupon if each stock closes at or above the applicable autocall barrier value on any monthly observation date after three months. The autocall barrier is 85% of the initial value for the first five observation dates, stepping down to 82.5% of the initial value for the next five observation dates and to 80% of the initial value for the last five dates.
The payout at maturity will be par unless any stock finishes below its final barrier value, 50% of its initial value, in which case investors will be fully exposed to the decline of the least-performing 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 equity-linked securities
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| Underlying stocks: | Microsoft Corp. (Symbol: MSFT), Moderna, Inc. (Symbol: MRNA) and Walt Disney Co. (Symbol: DIS)
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| Amount: | $1,844,000
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| Maturity: | May 9, 2022
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| Coupon: | 13.7%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below final barrier value, in which case full exposure to least-performing stock’s decline
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| Call: | At par plus interest if each stock closes at or above its autocall barrier value on any monthly observation date starting Feb. 1; autocall barrier value is 85% of the initial value for first five dates, stepping down to 82.5% of the initial value for the next five dates and to 80% of the initial value for the last five dates
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| Initial values: | $204.72 for Microsoft, $71.28 for Moderna and $121.54 for Walt Disney
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| Final barrier values: | $102.36 for Microsoft, $35.64 for Moderna and $60.77 for Walt Disney, 50% of initial values
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| Pricing date: | Oct. 30
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| Settlement date: | Nov. 5
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.85%
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| Cusip: | 17328WY93
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