By Taylor Fox
New York, Oct. 16 – Citigroup Global Markets Holdings Inc. priced $1.14 million of callable contingent coupon equity-linked securities due Sept. 23, 2024 linked to the lesser performing of the iShares Silver Trust and 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 monthly coupon at annual rate of 17.5% if each fund closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be callable at par plus any coupon due on any monthly potential redemption date starting after six months.
The payout at maturity will be par plus the final coupon unless either fund finishes below its 70% barrier, in which case investors will lose 1% for each 1% decline of the worst performing fund from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying funds: | iShares Silver Trust and the VanEck Vectors Gold Miners ETF
|
| Amount: | $1,140,000
|
| Maturity: | Sept. 23, 2024
|
| Coupon: | 17.5%, payable monthly if each fund closes at or above coupon barrier on observation date
|
| Price: | Par
|
| Call option: | At par plus any coupon due on any monthly potential redemption date after six months
|
| Payout at maturity: | Par plus coupon if both funds finish above barrier levels; otherwise, 1% loss for each 1% decline of worse performing fund from initial level
|
| Initial levels: | $25.29 for silver and $42.79 for gold
|
| Coupon barriers: | $17.703 for silver and $29.953 for gold, 70% of initial levels
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| Barrier values: | $17.703 for silver and $29.953 for gold, 70% of initial levels
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 23
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17328WN79
|
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