By Kiku Steinfeld
Chicago, Oct. 1 – Citigroup Global Markets Holdings Inc. priced $2.75 million of autocallable contingent coupon equity-linked securities due Sept. 20, 2024 linked to the worst performing of the stocks of Bank of America Corp., RH and Visa 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 monthly coupon at an annual rate of 13.2% if each stock closes at or above its coupon barrier price, 60% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial share price on any monthly autocall date after three months.
If the notes are not called and each stock finishes at or above its final barrier price, 60% of its initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will be exposed to the losses of the worst performer.
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 stocks: | Bank of America Corp., RH and Visa Inc.
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| Amount: | $2,748,000
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| Maturity: | Sept. 20, 2024
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| Coupon: | 13.2% annualized rate, payable monthly if each 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 the final coupon if each stock closes at or above final barrier price; otherwise, exposure to losses of worst performer
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| Call: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly valuation date after three months
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| Initial share prices: | $40.50 for BofA, $672.15 for RH, $221.75 for Visa
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| Coupon barrier prices: | $24.30 for BofA, $403.290 for RH, $133.050 for Visa; 60% of initial share prices
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| Final barrier prices: | $24.30 for BofA, $403.290 for RH, $133.050 for Visa; 60% of initial share prices
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| Pricing date: | Sept. 17
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| Settlement date: | Sept. 22
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17329QRK8
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