By Sarah Lizee
Olympia, Wash., Dec. 10 – Citigroup Global Markets Holdings Inc. priced $180,000 of 0% autocallable securities due Dec. 3, 2021 linked to the SPDR Dow Jones Industrial Average ETF Trust and the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Citigroup will call the notes at par of $1,000 plus a call premium of 7% per year if the closing level of each asset is greater than or equal to its initial level on any quarterly call date.
If each asset finishes at or above its initial index level, the payout at maturity will be $1,450 per $1,000 of notes.
Investors will receive par if the final level of any asset is less than its initial level but each asset finishes at or above the trigger level, 80% of its initial level.
Otherwise, investors will receive a number of shares of the worse performing underlying equal to $1,000 divided by the initial price or, at the issuer’s option, the cash equivalent.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying assets: | SPDR Dow Jones Industrial Average ETF Trust and Invesco QQQ Trust, Series 1
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| Amount: | $180,000
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| Maturity: | Dec. 3, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 21% if each asset finishes above initial level; par if either asset finishes below initial level, but each asset finishes at or above trigger level; otherwise, a number of shares of the worse performing underlying equal to $1,000 divided by the initial price or, at the issuer’s option, the cash equivalent
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| Call: | Automatically at par plus annualized premium of 7% if each asset closes at or above initial level on any quarterly call date
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| Initial levels: | $255.51 for SPDR Dow Jones, $169.37 for Invesco
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| Triggers: | $204.408 for SPDR Dow Jones, $135.496 for Invesco; 80% of initial levels
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 5
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17324XKV1
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