By Taylor Fox
New York, Nov. 30 – Citigroup Global Markets Holdings Inc. priced $1.72 million of autocallable contingent coupon equity-linked securities due May 24, 2023 linked to the worse performing of the stocks of MGM Resorts International and Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 13.5% if each stock closes at or above its coupon barrier price, 60% of its initial share price, on the valuation date for that quarter.
The notes will be automatically called at par plus the coupon if each stock closes at or above its autocall barrier price, 85% of its initial share price, on any quarterly valuation date.
If the notes are not called and each stock finishes at or above its final barrier price, 60% of its initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the losses of the worst performer.
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: | MGM Resorts International and Wynn Resorts, Ltd.
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Amount: | $1,715,000
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Maturity: | May 24, 2023
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Coupon: | 13.5% annualized rate, payable quarterly if each stock closes at or above coupon barrier price on valuation date for that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon if each stock closes at or above final barrier price; otherwise, full exposure to losses of worst performer
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Call: | Automatically at par plus coupon if each stock closes at or above autocall barrier price on any quarterly valuation date
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Initial share prices: | $27.24 for MGM and $98.75 for Wynn
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Autocall barrier prices: | $23.154 for MGM and $83.938 for Wynn, 85% of initial share prices
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Coupon barrier prices: | $16.344 for MGM and $59.25 for Wynn, 60% of initial share prices
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Final barrier prices: | $16.344 for MGM and $59.25 for Wynn, 60% of initial share prices
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Pricing date: | Nov. 19
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Settlement date: | Nov. 24
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3.25%
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Cusip: | 17328Y3Z5
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