By Cady Vishniac
Detroit, Jan. 5 – Citigroup Global Markets Holdings Inc. priced $475,000 of autocallable contingent coupon equity-linked securities due Dec. 27, 2023 linked to the SPDR S&P Biotech exchange-traded fund and the Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a quarterly coupon at an annual rate of 10.16% per year if the ETFs both finish at or above their coupon barrier prices, 75% of their initial prices, on their quarterly valuation date.
The notes will be called at par plus any coupon due if both ETFs close at or above their initial prices on any quarterly valuation date.
If the ETFs both finish at or above their final barrier prices, 75% of their initial prices, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for each 1% decline of the lesser-performing ETF from its initial price, but receive a coupon if the lesser-performing ETF closes at or above its final barrier price.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying ETFs: | S&P 500
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| Amount: | $475,000
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| Maturity: | Dec. 27, 2023
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| Coupon: | 10.16% per year, payable quarterly if the lesser-performing ETF finishes at or above the 75% coupon barrier price
|
| Price: | Par
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| Payout at maturity: | If the lesser-performing ETF finishes at or above final barrier price, par plus the coupon; otherwise, 1% loss for each 1% decline of the lesser-performing ETF from its initial price, plus a coupon if the lesser-performing ETF closes at or above its final barrier price
|
| Call: | At par plus any coupon due if both ETFs close at or above their initial prices on any quarterly valuation date
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| Initial prices: | $149.85 for biotech and $128.08 for technology
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| Coupon/final barrier prices: | $112.388 for biotech and $96.060 for technology, 75% of initial prices
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17328YDH4
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