By Wendy Van Sickle
Columbus, Ohio, Oct. 22 – Citigroup Global Markets Holdings Inc. priced $347,000 of autocallable contingent coupon equity-linked securities due Oct. 14, 2021 linked to SPDR S&P 500 ETF Trust 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 4% if the ETF closes at or above its 65% coupon barrier on the review date for that quarter, plus any previously unpaid coupon.
The notes will be called at par if the ETF closes at or above its initial level on a quarterly call date.
The payout at maturity will be par unless the ETF finishes below its 65% barrier level, in which case investors will receive a fixed number of shares of the worst performing ETF equal to its equity ratio or cash value.
The notes are guaranteed by Citigroup Global Markets Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying ETF: | SPDR S&P 500 ETF Trust
|
| Amount: | $347,000
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| Maturity: | Oct. 14, 2021
|
| Coupon: | 4% annualized, payable quarterly if ETF closes at or above 65% coupon barrier on review date for that quarter, plus any previously unpaid coupon
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below 65% barrier, in which case a fixed number of shares of worst performing ETF equal to its equity ratio or cash value
|
| Call: | At par if ETF closes at or above its initial level on a quarterly call date
|
| Initial level: | $343.78
|
| Barrier level: | $223.457, 65% of initial level
|
| Equity ratio: | 2.90884
|
| Pricing date: | Oct. 8
|
| Settlement date: | Oct. 14
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17324X4V9
|
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