By Wendy Van Sickle
Columbus, Ohio, Jan. 8 – Citigroup Global Markets Holdings Inc. priced $750,000 of autocallable contingent coupon equity-linked securities due June 27, 2023 linked to the least performing of the common stocks of PayPal Holdings, Inc. and American Express Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if each underlying stock closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above 90% of its initial level on any quarterly call observation date.
The payout at maturity will be par unless any stock finishes below its 70% trigger level, in which case investors will be fully exposed to the decline of the least performing stock.
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: | PayPal Holdings, Inc., American Express Co.
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| Amount: | $750,000
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| Maturity: | June 27, 2023
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| Coupon: | 9% annualized, payable quarterly if each stock closes at or above coupon barrier on review date for that period
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above trigger level, par plus coupon; otherwise, exposure to decline of least-performing stock
|
| Call: | At par if each stock closes at or above 90% of its initial level on any quarterly call observation date
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| Initial levels: | $243.49 for PayPal and $114.55 for American Express
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| Coupon barrier levels: | $170.433 for PayPal and $80.185 for American Express; 70% of initial levels
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| Barrier levels: | $170.433 for PayPal and $80.185 for American Express; 70% of initial levels
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| Equity ratios: | 0.47600 for PayPal, 7.90576 for Expedia, 7.77545 for Marriott and 21.39037 for American Express
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| Pricing date: | Dec. 22
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| Settlement date: | Dec. 28
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17328YFG4
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