By Wendy Van Sickle
Columbus, Ohio, Oct. 7 – Citigroup Global Markets Holdings Inc. priced $695,000 of autocallable contingent coupon equity-linked securities due July 23, 2026 linked to the worst performing of the VanEck Vectors Oil Services ETF and the Energy 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 contingent monthly coupon at an annual rate of 6.3% if each underlier closes at or above the coupon barrier level, 75% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each underlier closes at or above its initial level, on any monthly valuation date after six months.
If the notes are not called and each underlier finishes at or above final barrier level, 80% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying assets: | Energy Select Sector SPDR fund, VanEck Vectors Oil Services ETF
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| Amount: | $695,000
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| Maturity: | July 23, 2026
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| Coupon: | 6.3% annualized rate, payable monthly if each underlier closes at or above coupon barrier level, on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each underlier closes at or above final barrier; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
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| Call: | Automatically at par plus coupon if each underlier closes at or above initial level on any monthly valuation date after six months
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| Initial levels: | $185.77 for Oil Services, $47.59 for Energy Select
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| Coupon barrier levels: | $139.328 for Oil Services, $35.693 for Energy Select; 75% of initial levels
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| Final barrier levels: | $148.616 for Oil Services, $38.072 for Energy Select; 80% of initial levels
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| Pricing date: | July 20
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| Settlement date: | July 23
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.75%
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| Cusip: | 17329Q5P1
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