By Wendy Van Sickle
Columbus, Ohio, May 14 – Citigroup Global Markets Holdings Inc. priced $850,000 of autocallable contingent coupon equity-linked securities due Nov. 16, 2021 linked to the least performing of the iShares Russell 2000 ETF and the SPDR Dow Jones Industrial Average ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 14% per year if the least-performing ETF closes at or above its coupon barrier value, 70% of its initial share price, on the valuation date for that month.
The notes will be automatically called at par if the least-performing ETF closes at or above its initial price on any monthly valuation date.
The payout at maturity will be par unless the least-performing ETF finishes below its final barrier value, 60% of its initial share price, in which case investors will be fully exposed to the decline of the lesser-performing ETF.
The notes are guaranteed by Citigroup Inc.
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 ETFs: | iShares Russell 2000 ETF and the SPDR Dow Jones Industrial Average ETF trust
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Amount: | $850,000
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Maturity: | Nov. 16, 2021
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Coupon: | 14% per year, payable monthly if least-performing ETF closes at or above coupon barrier value on valuation date for that month
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Price: | Par
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Payout at maturity: | Par unless least-performing ETF finishes below final barrier value, in which full exposure to decline of lesser-performing ETF
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Call: | Automatically at par if the least-performing ETF closes at or above its initial price on any monthly valuation date
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Initial share prices: | $131.70 for Russell, $242.56 for Dow
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Coupon barriers: | $92.19 for Russell, $169.792for Dow, or 70% of initial share prices
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Barrier values: | $79.02 for Russell, $145.536 for Dow, or 60% of initial share prices
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Pricing date: | May 11
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Settlement date: | May 14
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.75%
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Cusip: | 17324XD23
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