By Kiku Steinfeld
Chicago, June 19 – Citigroup Global Markets Holdings Inc. priced $4.19 million of autocallable contingent coupon equity-linked securities due Dec. 20, 2021 linked to the SPDR S&P 500 ETF trust, 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 annualized rate of 7.5% if the ETF stock closes at or above the barrier price, 70% of the initial price, on the valuation date for that quarter.
The notes will be called at par of $1,000 plus the contingent coupon if ETF closes at or above the initial share price on any valuation date.
The payout at maturity will be par plus the contingent coupon unless the ETF finishes below the 70% barrier level, in which case investors receive a number of ETF shares equal to its equity ratio, $1,000 divided by the initial share price or, at the company’s option, the cash equivalent.
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 ETF: | SPDR S&P 500 ETF trust
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| Amount: | $4,190,000
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| Maturity: | Dec. 20, 2021
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| Coupon: | 7.5% per year, payable quarterly if closing price of ETF is greater than or equal to barrier price on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless ETF shares finish below barrier price, in which case investors receive a number of shares equal to $1,000 divided by the initial share price or the cash equivalent
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| Call: | At par plus contingent coupon if closing share price is greater than or equal to initial share price on any valuation date
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| Initial share price: | $307.05
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| Barrier price: | $236.429, 70% of initial share price
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| Equity ratio: | 3.25680
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| Pricing date: | June 15
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| Settlement date: | June 18
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17324XL81
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