By William Gullotti
Buffalo, N.Y., April 9 – Citigroup Global Markets Holdings Inc. priced $11 million of airbag autocallable contingent yield notes with memory due April 4, 2025 linked to the stock performance of Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest will be payable monthly at an annualized rate of 11.7% if the stock closes at or above its coupon barrier, 80% of the initial level, on the related observation date. Previously unpaid interest, if any, will be automatically included whenever interest is paid.
The notes will be called automatically at par plus the coupon if the shares close at or above the initial share price on any monthly observation date.
The payout at maturity will be par plus the final coupon unless the final share price is less than the conversion price, 80% of the initial share price, in which case the payout will be a number of shares equal to $1,000 divided by the conversion price.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Airbag autocallable contingent yield notes with memory
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| Underlying stock: | Goldman Sachs Group, Inc.
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| Amount: | $11 million
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| Maturity: | April 4, 2025
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| Coupon: | 11.7%, payable monthly if stock closes at or above coupon barrier on related observation date; coupon payment events will automatically include any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless final share price is less than conversion price, in which case 2.99267 shares per note
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| Call: | Automatically at par plus coupon if the shares close at or above initial share price on any monthly observation date
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| Initial share price: | $417.69
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| Coupon barrier: | $334.15; 80% of initial share price
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| Conversion price: | $334.15; 80% of initial share price
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| Strike date: | March 28
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| Pricing date: | April 1
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| Settlement date: | April 4
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| Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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| Fees: | 0.1%
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| Cusip: | 17331N731
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