By Wendy Van Sickle
Columbus, Ohio, Nov. 18 – Citigroup Global Markets Holdings Inc. priced $861,000 of autocallable contingent coupon equity-linked securities due Nov. 14, 2025 tied to the common stocks of Philip Morris International Inc., Bank of America Corp. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 11.2% per year, payable monthly if each stock closes above its coupon barrier, 50% of its initial level, on the observation date for that period.
The notes will be automatically redeemed at par plus interest if the worst-performing stock closes at or above its initial price on any monthly autocall date after a year.
If the notes are not called and the final price each stock is at least 50% of its initial price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the loss of the least performing stock.
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: | Philip Morris International Inc., Bank of America Corp. and Microsoft Corp.
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Amount: | $861,000
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Maturity: | Nov. 14, 2025
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Coupon: | 11.2%, payable monthly if stocks close above coupon barrier on observation date
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Price: | Par
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Payout at maturity: | Par if each stock’s final price is at least 55% of initial price; otherwise, full exposure to loss of least performing stock
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Call: | At par plus interest if the worst-performing stock closes at or above initial price on any monthly autocall date after one year
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Initial prices: | $83.57 for Philip Morris, $33.26 for Bank of America, $145.96 for Microsoft
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Coupon barriers: | $41.785 for Philip Morris, $16.63 for Bank of America, $72.98 for Microsoft; 50% of initial prices
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Final barriers: | $41.785 for Philip Morris, $16.63 for Bank of America, $72.98 for Microsoft; 50% of initial prices
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Pricing date: | Nov. 8
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Settlement date: | Nov. 14
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.5%
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Cusip: | 17327TFN1
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