By Taylor Fox
New York, Oct. 26 – Citigroup Global Markets Holdings Inc. priced $270,000 of callable contingent coupon equity-linked securities due Sept. 26, 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 17.5% 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 potential redemption date.
The payout at maturity will be par plus any final coupon unless either ETF finishes below its 60% barrier, in which case investors will lose 1% for each 1% decline of the worst performing ETF from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| 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: | $270,000
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| Maturity: | Sept. 26, 2025
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| Coupon: | 17.5%, payable quarterly if each ETF closes at or above coupon barrier on observation date
|
| Price: | Par
|
| Call option: | At par plus any coupon due on any quarterly potential redemption date
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| Payout at maturity: | Par plus any coupon if both ETFs finish above barrier levels; otherwise, 1% loss for each 1% decline of worse performing ETF from initial level
|
| Initial levels: | $21.17 for silver and $37.63 for gold
|
| Coupon barriers: | $14.819 for silver and $26.341 for gold, 70% of initial levels
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| Barrier values: | $12.702 for silver and $22.578 for gold, 60% of initial levels
|
| Pricing date: | Sept. 23
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| Settlement date: | Sept. 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.75%
|
| Cusip: | 17328WYW2
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