By Kiku Steinfeld
Chicago, Nov. 15 – Citigroup Global Markets Holdings Inc. price $2.51 million of contingent income autocallable securities due Nov. 1, 2024 linked to the worst performing of the Financial Select Sector SPDR fund, the Energy Select Sector SPDR fund and the Industrial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 8% if each ETF closes at or above its 65% coupon barrier on the related determination date.
The notes will be automatically redeemed at par of $10 if each ETF closes at or above its initial value on any quarterly observation date.
The payout at maturity will be par unless any ETF finishes below its 65% threshold level, in which case investors will be fully exposed to the losses of the worst-performing ETF.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is acting as a selected dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying ETFs: | Financial Select Sector SPDR fund, Energy Select Sector SPDR fund and Industrial Select Sector SPDR fund
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| Amount: | $2,507,580
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| Maturity: | Nov. 1, 2024
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| Coupon: | 8% per year, payable quarterly if each ETF closes at or above its coupon barrier on the related determination date
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| Price: | Par of $10
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| Payout at maturity: | Par unless any ETF finishes below its threshold level, in which case investors will be fully exposed to the losses of the worst-performing ETF
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| Call: | Automatically redeemed at par if each ETF closes at or above its initial value on any quarterly observation date
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| Initial levels: | $40.26 for Financial, $57.47 for Energy, $104.49 for Industrial
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| Coupon barriers: | $26.169 for Financial, $37.356 for Energy, $67.919 for Industrial; 65% of initial levels
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| Threshold values: | $26.169 for Financial, $37.356 for Energy, $67.919 for Industrial; 65% of initial levels
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| Pricing date: | Oct. 29
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| Settlement date: | Nov. 3
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| Underwriter: | Citigroup Global Markets Inc.
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 17329T674
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