By Taylor Fox
New York, March 16 – Citigroup Global Markets Holdings Inc. priced $1.96 million of 0% autocallable barrier securities due March 15, 2022 linked to the lesser performing of the Energy Select Sector SPDR fund and the Health Care 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 be called at par plus a call premium of 21% if each fund closes at or above its initial level on Sept. 3, 2021.
If the final level of each fund return is positive or flat, the payout at maturity will be par plus 1.5 times the return of the worst performer. The payout will be par if the final level of each fund is less than its initial level but greater than or equal to the barrier level, 80% of the initial level. If any fund finishes below the barrier level, investors will be fully exposed to the decline of the least performing fund.
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 barrier securities
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Underlying funds: | Energy Select Sector SPDR fund and Health Care Select Sector SPDR fund
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Amount: | $1,956,000
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Maturity: | March 15, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each fund return is positive, par plus 1.5 times the least performing fund return; par if final level of least performing fund is less than initial level but greater than or equal to barrier level; full exposure to decline if least performing fund finishes below barrier level
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Call: | At par plus call premium of 21% if each fund closes at or above its initial level on Sept, 3, 2021
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Initial levels: | $49.85 for Energy Select and $112.31 for Health Care Select
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Trigger levels: | $39.88 for Energy Select and $89.848 for Health Care Select; 80% of initial levels
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Pricing date: | March 3
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Settlement date: | March 8
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17328YTH7
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