By Wendy Van Sickle
Columbus, Ohio, Oct. 14 – Citigroup Global Markets Holdings Inc. priced $1.66 million of autocallable contingent coupon equity-linked securities due Oct. 6, 2021 linked to the least performing of the Financial Select Sector SPDR fund and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 18.42% per year if the least-performing ETF closes at or above its coupon barrier value, 80% of its initial share price, on the valuation date for that quarter, plus any previously unpaid coupon.
The notes will be automatically called at par if the least-performing ETF closes at or above its initial price on any quarterly valuation date.
The payout at maturity will be par unless the least-performing ETF finishes below its final barrier value, 80% of its initial share price, in which case investors will be fully exposed to the decline of the lesser-performing ETF paid in shares of that ETF.
The notes are guaranteed by Citigroup Inc.
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 ETFs: | Financial Select Sector SPDR fund and SPDR S&P Regional Banking ETF
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| Amount: | $1,655,000
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| Maturity: | Oct. 6, 2021
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| Coupon: | 18.42% per year, payable quarterly if least-performing ETF closes at or above coupon barrier value on valuation date for that quarter, plus any previously unpaid coupon
|
| Price: | Par
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| Payout at maturity: | Par unless least-performing ETF finishes below final barrier value, in which full exposure to decline of lesser-performing ETF paid in shares of that ETF
|
| Call: | Automatically at par if the least-performing ETF closes at or above its initial price on any quarterly valuation date
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| Initial share prices: | $24.11 for financial, $35.92 for banking
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| Coupon barriers: | $19.288 for financial, $28.736 for banking, or 80% of initial share prices
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| Barrier values: | $19.288 for financial, $28.736 for banking, or 80% of initial share prices
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| Pricing date: | Oct. 1
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| Settlement date: | Oct. 6
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
|
| Cusip: | 17324X2W9
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