Kiku Steinfeld
Chicago, Oct. 9 – Citigroup Global Markets Holdings Inc. priced $511,000 of callable contingent coupon equity-linked securities due Oct. 2, 2025 linked to the lesser performing of the iShares Silver trust and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at annual rate of 16.7% if each ETF closes at or above its coupon barrier, 70% of its initial level, on the observation date for that period.
The notes will be callable at par plus any coupon due on any quarterly call valuation date.
The payout at maturity will be par plus the final coupon unless any underlier finishes below the 60% final barrier value, in which case investors will receive a fixed number of shares of the worst performing ETF equal to its equity ratio or, if the issuer prefers, the cash value of those shares.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Issue: | Callable contingent coupon equity-linked securities
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ETFs: | iShares Silver trust and VanEck Vectors Gold Miners ETF
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Amount: | $511,000
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Maturity: | Oct. 2, 2025
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Coupon: | 16.7%, payable quarterly if each ETF closes at or above coupon barrier on observation date
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Price: | Par
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Call option: | At par plus any coupon due on any quarterly call valuation date
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Payout at maturity: | Par plus any coupon if both ETFs finish above barrier levels; otherwise, a fixed number of shares of the worst performing ETF equal to its equity ratio or cash value
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Initial levels: | $22.50 for silver and $39.37 for gold
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Coupon barriers: | $15.750 for silver and $27.559 for gold, 70% of initial levels
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Barrier values: | $13.500 for silver and $23.622 for gold, 60% of initial levels
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Equity ratios: | 44.44444 for silver and 25.40005 for gold
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Pricing date: | Sept. 29
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Settlement date: | Oct. 2
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.625%
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Cusip: | 17324X4R8
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