By Wendy Van Sickle
Columbus, Ohio, Dec. 23 – Citigroup Global Markets Holdings Inc. priced $1.25 million of autocallable contingent coupon equity-linked securities due Dec. 21, 2023 linked to CarMax Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10.4% if the stock closes at or above its 70% coupon barrier on the review date for that quarter.
The notes will be called at par if the stock closes at or above its initial level on a quarterly call date.
The payout at maturity will be par unless the stock finishes below its 70% barrier level, in which case investors will be fully exposed to the loss of the CarMax shares.
The notes are guaranteed by Citigroup Global Markets 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 stock: | CarMax Inc.
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| Amount: | $1.25 million
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| Maturity: | Dec. 21, 2023
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| Coupon: | 10.4% annualized, payable quarterly if stock closes at or above 70% coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below 70% barrier, in which case full exposure to loss
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| Call: | At par if stock closes at or above its initial level on a quarterly call date
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| Initial level: | $99.79
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| Barrier level: | $69.853, 70% of initial level
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| Pricing date: | Dec. 17
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| Settlement date: | Dec. 22
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17328YD84
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