By Wendy Van Sickle
Columbus, Ohio, Sept. 15 – Citigroup Global Markets Holdings Inc. priced $9 million of contingent income autocallable securities due Sept. 9, 2022 linked to the least performing of the Financial Select Sector SPDR fund, Energy Select Sector SPDR fund and Utilities Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes will pay a contingent coupon at the rate of 10% per year if each fund closes at or above its coupon barrier level, 60% of its initial level, on the determination date for that quarter.
The notes will be automatically called at par if each fund closes at or above its initial level on any quarterly call determination date.
The payout at maturity will be par unless any fund finishes below its 60% downside threshold, in which case investors will lose 1% for every 1% that the least-performing fund declines from its initial level.
The agent is Citigroup Global Markets Inc. with Morgan Stanley & Co. LLC as a 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 funds: | Financial Select Sector SPDR fund, Energy Select Sector SPDR fund and Utilities Select Sector SPDR fund
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Amount: | $8,998,610
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Maturity: | Sept. 9, 2022
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Coupon: | 10% per year, payable quarterly if each fund closes at or above barrier level on determination date for that quarter
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Price: | Par
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Payout at maturity: | Par due unless any fund finishes below its downside threshold, in which case investors will lose 1% for every 1% that the least-performing fund declines from its initial level
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Call: | Automatically at par if each fund closes at or above its initial level on any quarterly call determination date
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Initial fund levels: | $25.29 for Financial, $34.87 for Energy, $59.37 for Utilities
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Coupon barrier levels: | $15.174 for Financial, $20.922 for Energy, $35.622 for Utilities; 60% of initial levels
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Downside thresholds: | $15.174 for Financial, $20.922 for Energy, $35.622 for Utilities; 60% of initial levels
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Pricing date: | Sept. 4
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Settlement date: | Sept. 10
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Agent: | Citigroup Global Markets Inc. with Morgan Stanley & Co. LLC as a dealer
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Fees: | 2%
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Cusip: | 17327Y345
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