By Taylor Fox
New York, Oct. 26 – Citigroup Global Markets Holdings Inc. priced $2.5 million of autocallable contingent coupon equity-linked securities due Sept. 24, 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.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at the rate of 10% per year if each fund closes at or above its coupon barrier level, 66% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par if each fund closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless any fund finishes below its barrier level, 66% of its initial level, in which case investors will lose 1% for every 1% decline of the least performing fund.
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 funds: | Financial Select Sector SPDR Fund and the SPDR S&P Regional Banking ETF
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| Amount: | $2.5 million
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| Maturity: | Sept. 24, 2021
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 10% per year unless any fund closes below coupon barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any fund finishes below its barrier level, in which case 1% loss for every 1% decline of the least performing fund
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| Call: | Automatically at par if each fund closes at or above initial level on any quarterly call observation date
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| Initial levels: | $23.93 for Financial Select, $35.49 for Regional Banking
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| Coupon barrier levels: | $15.794 for Financial Select, $23.423 for Regional Banking; 66% of initial levels
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| Final barrier levels: | $15.794 for Financial Select, $23.423 for Regional Banking; 66% of initial levels
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| Equity ratios: | 41.78855 for Financial Select, 28.17695 for Regional Banking
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324X4D9
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