By Taylor Fox
New York, Feb. 16 – Citigroup Global Markets Holdings Inc. priced $10 million of autocallable phoenix securities due Jan. 14, 2022 linked to the common stock of Bank of America Corp., 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 annual rate of 9% if the stock closes at or above its 80% coupon barrier on the related monthly observation date, in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on any monthly valuation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the stock finishes below the 80% buffer, in which case investors will lose 1.25% for each 1% decline in the share price beyond 20%.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable phoenix securities
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| Underlying stock: | Bank of America Corp.
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| Amount: | $10 million
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| Maturity: | Jan. 14, 2022
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| Coupon: | 9% annualized, payable each month that stock closes at or above coupon barrier on determination date for that month, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless the stock finishes below buffer, in which case 1.25% loss for each 1% decline in share price beyond 20%
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| Call: | At par plus contingent coupon if stock closes at or above initial price on any monthly valuation date
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| Initial share price: | $32.53
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| Coupon barrier: | $26.024, 80% of initial price
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| Buffer: | $26.024, 80% of initial price
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 14
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17328YBC7
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