By Wendy Van Sickle
Columbus, Ohio, Sept. 9 – Citigroup Global Markets Holdings Inc. priced $465,000 of autocallable contingent coupon equity-linked securities due Sept. 3, 2021 linked to the iShares Silver trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if the ETF closes at or above the coupon barrier level, 65% of the initial price, on the valuation date for that period, plus any previously unpaid coupon.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any quarterly valuation date.
The payout at maturity will be par plus the contingent coupon unless the ETF finishes below the 65% barrier level, in which case investors will be fully exposed to the loss.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying ETF: | iShares Silver trust
|
| Amount: | $465,000
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| Maturity: | Sept. 3, 2021
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| Coupon: | 9% per year, payable quarterly if ETF closes at or above barrier price on valuation date for that period, plus any previously unpaid coupon
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to barrier price, par plus contingent coupon; otherwise, 38.12429 ETF shares
|
| Call: | At par plus contingent coupon if shares close at or above initial share price on any quarterly valuation date
|
| Initial share price: | $26.23
|
| Barrier price: | $17.05, 65% of initial share price
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| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 3
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17324XY61
|
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