By Wendy Van Sickle
Columbus, Ohio, Sept. 3 – Citigroup Global Markets Holdings Inc. priced $1.69 million of autocallable contingent coupon equity-linked securities due Aug. 29, 2025 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the SPDR Gold trust, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 11.5% per year if the lesser-performing ETF closes at or above its coupon barrier value, 70% of its initial share price, on the observation date for that quarter.
The notes will be automatically called at par if the lesser-performing ETF closes at or above its initial share price on any quarterly call observation date.
The payout at maturity will be par unless any ETF finishes below its 70% final barrier value, in which case investors will be fully exposed to the loss of the worst-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 Gold trust and VanEck Vectors Gold Miners ETF
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Amount: | $1,685,000
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Maturity: | Aug. 29, 2025
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Coupon: | 11.5% per year, payable quarterly if lesser-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 lesser-performing ETF finishes below final barrier level, in which case full exposure to lesser-performing ETF’s loss
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Call: | Automatically at par if lesser-performing ETF closes at or above initial share price on any quarterly call observation date
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Initial share prices: | $40.66 for Gold Miners, $181.24 for SPDR
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Coupon barriers: | $28.462 for Gold Miners, $126.868 for SPDR, 70% of initial levels
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Final barrier levels: | $28.462 for Gold Miners, $126.868 for SPDR, 70% of initial levels
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Pricing date: | Aug. 27
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Settlement date: | Aug. 31
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 4%
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Cusip: | 17328WLS5
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