By Wendy Van Sickle
Columbus, Ohio, Oct. 29 – Citigroup Global Markets Holdings Inc. priced $3.36 million of autocallable contingent coupon equity-linked securities due Oct. 29, 2021 linked to the least performing of the SPDR Gold trust and the iShares Silver trust, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 10% per year if the least-performing ETF closes at or above its coupon barrier value, 71% 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, 71% of its initial share price, in which case investors will be fully exposed to the decline of the lesser-performing 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: | SPDR Gold trust and iShares Silver trust
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| Amount: | $3,356,000
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| Maturity: | Oct. 29, 2021
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| Coupon: | 10% 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
|
| 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: | $22.61 for Gold, $178.55 for Silver
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| Coupon barriers: | $16.053 for Gold, $126.771 for Silver, or 71% of initial share prices
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| Barrier values: | $16.053 for Gold, $126.771 for Silver, or 71% of initial share prices
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 29
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324X3K4
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