By Wendy Van Sickle
Columbus, Ohio, May 20 – Citigroup Global Markets Holdings Inc. priced $1 million of autocallable contingent coupon equity-linked securities due May 4, 2023 linked to the common stock of Wells Fargo & Co., 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 8.5% if underlying stock closes at or above its coupon barrier price, 75% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if underlying stock closes at or above its initial share price on any quarterly autocall date after six months.
If the notes are not called and underlying stock finishes at or above its final barrier price, 75% of its initial share price, the payout at maturity will be par plus any final coupon. Otherwise, investors will be fully exposed to the losses of the worst performer, payable either in shares or cash at the issuer’s option.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stock: | Wells Fargo & Co.
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| Amount: | $1 million
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| Maturity: | May 4, 2023
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| Coupon: | 8.5% annualized rate, payable quarterly if underlying stock closes at or above coupon barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if underlying stock closes at or above final barrier price; otherwise, full exposure to losses of underlying asset, payable either in shares or cash at the issuer’s option
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| Call: | Automatically at par plus coupon if underlying stock closes at or above initial level on any quarterly valuation date after six months
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| Initial share price: | $46.24
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| Coupon barrier price: | $34.68, 75% of initial share prices
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| Final barrier price: | $34.68, 75% of initial share prices
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| Pricing date: | April 29
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| Settlement date: | May 4
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328NNC8
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