By Wendy Van Sickle
Columbus, Ohio, Oct. 7 – Citigroup Global Markets Holdings Inc. priced $960,000 of autocallable contingent coupon equity-linked securities due Aug. 25, 2022 linked to the common stock of Lyft, 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 annualized rate of 14.2% if Lyft stock closes at or above the barrier price, 66% of the initial price, on the valuation date for that period.
The notes will be automatically called at par of $1,000 plus the contingent coupon if Lyft shares close at or above the initial share price on any monthly valuation date after six months.
If the notes are not called, the payout at maturity will be par unless the shares finish below their 66% barrier level, in which case investors will receive a number of shares equal to the principal divided by the initial share price or the cash equivalent.
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: | Lyft, Inc.
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| Amount: | $960,000
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| Maturity: | Aug. 25, 2022
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| Coupon: | 14.2% per year, payable monthly if closing price of Lyft shares is greater than or equal to barrier price on valuation date for that period
|
| Price: | Par of $1,000
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| Payout at maturity: | Par unless shares finish below barrier level, in which case 18.88574 shares or cash equivalent
|
| Call: | At par plus contingent coupon if closing share price is greater than or equal to initial share price on any monthly valuation date after six months
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| Initial share price: | $52.95
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| Barrier price: | $34.947, 66% of initial share price
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| Pricing date: | July 20
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| Settlement date: | July 23
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.65%
|
| Cusip: | 17328NUZ9
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