By Emma Trincal
New York, May 6 – Citigroup Global Markets Holdings Inc. priced $2 million of autocallable contingent coupon equity-linked securities due May 6, 2027 linked to the worst performing of the iShares Silver Trust and the VanEck Vectors Junior Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annual rate of 10.75% if each ETF closes at or above the coupon barrier level, 80% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each ETF closes at or above its initial level, on any monthly valuation date after one year.
If the notes have not been called and each ETF finishes at or above its 80% final barrier, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing ETF declines beyond the buffer.
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 contingent coupon equity-linked securities
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| Underlying funds: | iShares Silver Trust and VanEck Vectors Junior Gold Miners ETF
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| Amount: | $2,000,000
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| Maturity: | May 6, 2027
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| Coupon: | 10.75% annualized rate, payable monthly if each ETF closes at or above coupon barrier level, on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If each ETF finishes at or above the buffer level, par plus final coupon; otherwise, 1% loss for every 1% that the worst performing ETF declines beyond the buffer
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| Call: | Automatically at par plus coupon if each ETF closes at or above initial level on any monthly valuation date after one year
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| Initial levels: | $20.87 for SLV, $42.14 for GDXJ
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| Coupon barrier levels: | $16.696 for SLV, $ 33.712 for GDXJ; 80% of initial levels
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| Buffer levels: | $16.696 for SLV, $ 33.712 for GDXJ; 80% of initial levels
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| Pricing date: | May 2
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| Settlement date: | May 5
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.5%
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| Cusip: | 17330FLF6
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