By Wendy Van Sickle
Columbus, Ohio, Oct. 6 – Citigroup Global Markets Holdings Inc. priced $1.06 million of autocallable contingent coupon equity-linked securities due Oct. 3, 2025 linked to the shares of the VanEck Vectors Gold Miners ETF, 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 12.5% if the ETF closes at or above the barrier price, 70% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the shares close at or above the initial share price on any valuation date.
If the notes are not called, the payout at maturity will be par unless the shares finish below the 60% final barrier level, in which case investors will be fully exposed to the loss.
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: | VanEck Vectors Gold Miners ETF
|
| Amount: | $1,064,000
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| Maturity: | Oct. 3, 2025
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| Coupon: | 12.5% per year, payable quarterly if closing price of shares is greater than or equal to barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless shares finish below final barrier level, in which case, full exposure to decline
|
| Call: | At par plus contingent coupon if closing share price is greater than or equal to initial share price on any quarterly valuation date
|
| Initial share price: | $39.16
|
| Coupon barrier price: | $27.412, 70% of initial share price
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| Final barrier price: | $23.496, 60% of initial share price
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| Pricing date: | Sept. 30
|
| Settlement date: | Oct. 5
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17328WNB0
|
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