By Wendy Van Sickle
Columbus, Ohio, Oct. 1 – Citigroup Global Markets Holdings Inc. priced $2.31 million autocallable contingent coupon equity-linked securities due Sept. 30, 2021 tied to 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 quarterly contingent coupon at an annualized rate of 7.25% if the ETF closes above 75% of its initial level on a relevant valuation date plus any previously unpaid coupon.
The notes will automatically be called at par plus the coupon if the ETF finishes above its initial value on any quarterly valuation date other than the final one.
If the notes are not called, the payout at maturity will be par plus the coupon if the ETF finishes above its 75% final barrier value.
Otherwise, investors will receive 3.04201 shares of the ETF, or the cash value of those shares, should the issuer prefer.
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: | $2.31 million
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| Maturity: | Sept. 30, 2021
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| Coupon: | 7.25% annual rate, payable quarterly if ETF finishes above 75% coupon barrier on relevant valuation date plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par plus coupon if ETF finishes above 75% final barrier value, otherwise full exposure to losses of ETF, payable either in 3.04201 shares of ETF or cash value of those shares at issuer’s option
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| Call: | Automatically at par plus coupon if ETF closes above initial level on any quarterly valuation date other than final one
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| Initial level: | $328.73
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| Coupon barrier: | $246.548, 75% of initial level
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| Final barrier: | $246.548, 75% of initial level
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324X3B4
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