Chicago, April 14 – Citigroup Global Markets Holdings Inc. priced $645,000 of autocallable contingent coupon equity-linked securities due Jan. 7, 2021 linked to the worst performing of the iShares Russell 2000 exchange-traded fund and the SPDR Dow Jones industrial average ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a monthly contingent coupon at an annual rate of 19% if both ETFs close at or above their coupon barriers, 70% of their initial levels, on the valuation date for that period.
The notes will automatically be called at par plus the coupon if both ETFs close at or above their initial levels on any monthly valuation date other than the final valuation date.
If the notes are not called and both ETFs finish at or above their 60% final barriers, investors will receive par plus the final coupon. Otherwise, the payout will be a number of shares of the lesser-performing ETF equal to $1,000 divided by its initial share price or, at the issuer’s option, the cash value.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying assets: | iShares Russell 2000 ETF and the SPDR Dow Jones industrial average ETF trust
|
| Amount: | $645,000
|
| Maturity: | Jan. 7, 2021
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| Coupon: | 19% per year, payable monthly if both ETFs close at or above their coupon barrier on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If both ETFs finish at or above their final barrier levels, par plus coupon; otherwise, number of shares of lesser-performing ETF equal to its equity ratio or, at issuer’s option, cash value
|
| Call: | At par plus coupon if both ETFs close above their initial levels on a monthly valuation date other than final one
|
| Initial levels: | $106.66 for iShares Russell and $209.38 for Dow
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| Coupon barrier values: | $74.662 for iShares Russell and $146.566 for Dow, 70% of initial levels
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| Final barrier values: | $63.996 for iShares Russell and $125.628 for Dow, 60% of initial levels
|
| Equity ratios: | 9.37559 for iShares Russell and 4.77601 for Dow
|
| Strike date: | April 1
|
| Pricing date: | April 3
|
| Settlement date: | April 8
|
| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
|
| Cusip: | 17324XYP9
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