By Sarah Lizee
Olympia, Wash., Dec. 4 – Citigroup Global Markets Holdings Inc. priced $477,000 of autocallable contingent coupon equity-linked securities due Nov. 25, 2022 linked to the least performing of the shares of SPDR Dow Jones industrial average ETF trust and the Invesco QQQ Trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 6% per year if the least-performing ETF closes at or above its coupon barrier value, 80% of its initial share price, on the valuation date for that quarter.
Starting in November 2020, the notes will be automatically called at par if the least-performing ETF closes at or above its initial share price on any quarterly valuation date.
The payout at maturity will be par unless the least-performing ETF finishes below its final barrier value, 80% of its initial share price, in which case investors will be fully exposed to the losses of the least-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: | SPDR Dow Jones industrial average ETF trust and the Invesco QQQ Trust, series 1
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| Amount: | $477,000
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| Maturity: | Nov. 25, 2022
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| Coupon: | 6% per year, payable quarterly if least-performing ETF closes at or above coupon barrier value on valuation date for that quarter
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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 case exposure to the losses of the least-performing ETF
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| Call: | Automatically at par if least-performing ETF closes at or above initial share price on any quarterly valuation date from November 2020
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| Initial share prices: | $277.72 for SPDR Dow, $201.70 for Invesco
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| Coupon barriers: | $222.176 for SPDR Dow, $161.360 for Invesco, or 80% of initial share prices
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| Barrier values: | $222.176 for SPDR Dow, $161.360 for Invesco, or 80% of initial share prices
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| Pricing date: | Nov. 21
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| Settlement date: | Nov. 26
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17324XUC2
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