New York, April 9 – Citigroup Global Markets Holdings Inc. priced $15 million of contingent income autocallable securities due April 7, 2025 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5%, paid monthly, if the underlying stock closes at or above its 80% downside threshold on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any monthly review date.
At maturity, the payout will be par unless the stock declines by more than 20%, in which case investors will lose 1.25% for each 1% decline of the stock beyond 20%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management will act as distributor.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Contingent income autocallable securities
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Underlying stock: | Bank of America Corp.
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Amount: | $15 million
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Maturity: | April 7, 2025
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Coupon: | 12.5%, paid monthly, if the underlying stock closes at or above its 80% downside threshold on the related monthly observation date, plus any previously unpaid coupons
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Price: | Par
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Payout at maturity: | Par unless the stock declines by more than its buffer, in which case investors will lose 1.25% for each 1% decline of the stock beyond 20%
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Call: | Automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any monthly review date
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Initial level: | $37.92
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Buffer: | 20%
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Downside leverage: | 125%
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Downside threshold: | $30.336, 80% of initial level
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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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Agent: | Citigroup Global Markets Inc.
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Distributor: | Morgan Stanley Wealth Management
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Fees: | 0.1%
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Cusip: | 17331AJ44
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