By Taylor Fox
New York, Dec. 7 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable contingent coupon equity-linked securities due June 2, 2023 linked to the least performing of the stocks of Pinterest, Inc. and Square, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the annual rate of 17% per year if the least-performing stock closes at or above its coupon barrier value, 50% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par if the least-performing stock closes at or above 90% of its initial price on any quarterly call valuation date.
The payout at maturity will be par unless the least-performing stock finishes below its final barrier value, 50% of its initial share price, in which case investors will have full exposure to the loss of the worst performing underlying asset.
The notes are guaranteed by Citigroup Inc.
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: | Pinterest, Inc. and Square, Inc.
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| Amount: | $500,000
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| Maturity: | June 2, 2023
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| Coupon: | 17% per year, payable quarterly if least-performing stock closes at or above coupon barrier value on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless least-performing stock finishes below final barrier value, in which case full exposure to loss of worst performing stock
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| Call: | Automatically at par if the least-performing stock closes at or above 90% of its initial price on any quarterly call valuation date
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| Initial share prices: | $70.02 for Pinterest and $210.96 for Square
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| Autocall barrier values: | $63.018 for Moderna, $189.864 for Tesla, or 90% of initial share prices
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| Coupon barriers: | $35.01 for Pinterest and $105.48 for Square, or 50% of initial share prices
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| Final barrier value: | $35.01 for Pinterest and $105.48 for Square, or 50% of initial share prices
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 3
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17328Y3B8
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