Chicago, Oct. 25 – Citigroup Global Markets Holdings Inc. priced $65,000 of autocallable contingent coupon equity linked securities due Feb. 27, 2023 linked to the worst performing of the Financial Select Sector SPDR fund and Industrial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7% paid quarterly if the worst performing ETF closes at or above its 75% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically at par starting May 23 if the price of the worst performing ETF is greater than or equal to its initial price and on any subsequent quarterly valuation date.
The payout at maturity will be par if the worst performing ETF ends at or above its 75% final barrier. Otherwise, investors will lose 1% for every 1% that the worst performing ETF declines, payable in cash or shares at the issuer’s option.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| 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 funds: | Financial Select Sector SPDR Fund and Industrial Select Sector SPDR Fund
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| Amount: | $65,000
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| Maturity: | Feb. 27, 2023
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| Coupon: | 7% annual rate, paid quarterly if the worst performing ETF closes at or above its 75% coupon barrier on the related valuation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If worst performing ETF finishes at or above final barrier, par; 1% loss for every 1% that worst performing ETF declines if it ends below final barrier, payable in cash or shares at issuer’s option
|
| Call: | Automatically starting May 23 if the price of the worst performing ETF is greater than or equal to its initial price and on any subsequent quarterly valuation date
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| Initial levels: | $39.02 for financial, $97.39 for industrial
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| Coupon barriers: | $29.265 for financial, $73.043 for industrial, 75% of initial levels
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| Final barriers: | $29.265 for financial, $73.043 for industrial, 75% of initial levels
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| Pricing date: | Feb. 22
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| Settlement date: | Feb. 25
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328NZ92
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