By Wendy Van Sickle
Columbus, Ohio, Nov. 3 – Citigroup Global Markets Holdings Inc. priced $251,000 of 0% autocallable securities due Nov. 1, 2022 linked to the worst 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.
If each ETF closes at or above 95% of its initial level on any quarterly valuation date after one year, the notes will be called at par plus a premium of 10% a year.
If each ETF finishes at or above 95% of its initial level, the payout will be par plus 20%. If the least performing ETF finishes below 95% of its initial level but not below its buffer level, 80% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing ETF beyond the 20% buffer.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying ETFs: | iShares Silver trust and VanEck Vectors Gold Miners ETF
|
| Amount: | $251,000
|
| Maturity: | Nov. 1, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes at or above 95% of its initial level, par plus 20%; if either ETF falls but not below buffer level, par; otherwise, 1% loss for each 1% decline of the worst performing ETF beyond 20% buffer
|
| Call: | Automatically at par plus an annualized premium of 10% if each ETF closes at or above its autocall barrier level on any quarterly valuation date after one year
|
| Initial levels: | $22.73 for silver, $38.83 for gold
|
| Autocall barrier levels: | $21.594 for silver, $36.889 for gold, 95% of initial levels
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| Buffer levels: | $18.184 for silver, $31.064 for gold, 80% of initial levels
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| Pricing date: | Oct. 27
|
| Settlement date: | Oct. 30
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.5%
|
| Cusip: | 17328WPH5
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