By William Gullotti
Buffalo, N.Y., Aug. 2 – Citigroup Global Markets Holdings Inc. priced $916,000 of 0% market-linked autocallable securities with contingent downside due June 27, 2025 linked to the VanEck Vectors Gold Miners ETF and the iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Quarterly, the notes will pay a contingent interest payment at the rate of 13% per year if each fund closes at or above the coupon barrier price, 70% of the initial share price, on the observation date for that period.
The notes will be automatically called at par plus the coupon if each fund closes at or above initial levels on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless any fund falls by more than 30%, in which case investors will lose 1% for every 1% decline of the worst performer from its initial level.
Citigroup Global Markets Inc. and Wells Fargo Securities are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked autocallable securities with contingent coupon and contingent downside
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| Underlying funds: | VanEck Vectors Gold Miners ETF, iShares Silver Trust
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| Amount: | $916,000
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| Maturity: | June 27, 2025
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| Coupon: | 13% annual rate, payable quarterly if all funds close at or above their coupon barrier prices on the relevant observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any fund falls by more than 30%, in which case full exposure the decline of the worst performer from its initial level
|
| Call: | Automatically at par plus coupon if each fund closes at or above initial levels on any quarterly observation date after six months
|
| Initial levels: | $27.38 for VanEck, $18.64 for iShares
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| Coupon barriers: | $19.166 for VanEck, $13.048 for iShares; 70% of initial level
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| Threshold levels: | $19.166 for VanEck, $13.048 for iShares; 70% of initial level
|
| Pricing date: | June 30
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| Settlement date: | July 6
|
| Agents: | Citigroup Global Markets Inc., Wells Fargo Securities
|
| Fees: | 2.175%
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| Cusip: | 17330P6Y0
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