Citigroup to price contingent coupon autocalls on iShares Silver Trust

By Sarah Lizee

Olympia, Wash., Aug. 28 – Citigroup Global Markets Holdings Inc. plans to price autocallable contingent coupon equity-linked securities due Sept. 3, 2021 linked to the iShares Silver Trust, 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 the ETF closes at or above the coupon barrier level, 70% of the initial price, on the valuation date for that period, in which case any previously unpaid coupon will also be paid.

The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly 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 will be fully exposed to the loss.

The notes are guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the underwriter.

The notes will price on Aug. 31.

The Cusip number is 17324XY61.

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