By Sarah Lizee
Olympia, Wash., Dec. 26 – Citigroup Global Markets Holdings Inc. priced $1.08 million of autocallable contingent coupon equity-linked securities due June 24, 2021 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 5.5% per year if the lesser-performing index closes at or above its knock-in value, 70% of its initial level, on the valuation date for that quarter.
Beginning in June 2020, the notes will be automatically called at par if the lesser-performing index closes at or above its initial level on any quarterly potential autocall date.
The payout at maturity will be par unless the lesser-performing index finishes below its initial level and either index closes below its knock-in value during the life of the notes, in which case investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
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
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $1,082,000
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| Maturity: | June 24, 2021
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| Coupon: | 5.5% per year, payable quarterly if lesser-performing index closes at or above knock-in value on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless lesser-performing index finishes below initial level and either index closes below knock-in value during life of notes, in which case 1% loss for every 1% that lesser-performing index declines from initial level
|
| Call: | Beginning in June 2020, notes will be automatically called at par if lesser-performing index closes at or above initial level on any quarterly potential autocall date
|
| Initial levels: | 3,205.37 for S&P and 1,667.094 for Russell
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| Knock-in value: | 2,243.759 for S&P and 1,166.966 for Russell, or 70% of initial levels
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| Pricing date: | Dec. 19
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| Settlement date: | Dec. 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.375%
|
| Cusip: | 17327TCH7
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