By Taylor Fox
New York, Oct. 20 – Citigroup Global Markets Holdings Inc. priced $1.58 million of autocallable contingent coupon equity-linked securities due Sept. 24, 2025 linked to the least performing of the iShares Russell 2000 ETF and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at the rate of 6.5% per year if each fund closes at or above its coupon barrier level, 65% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par if each fund closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless any fund finishes below its barrier level, 65% of its initial level, in which case investors will lose 1% for every 1% decline of the least performing fund.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying funds: | iShares Russell 2000 ETF and the SPDR S&P 500 ETF Trust
|
| Amount: | $1,575,000
|
| Maturity: | Sept. 24, 2025
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 6.5% per year unless any fund closes below coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any fund finishes below its barrier level, in which case 1% loss for every 1% decline of the least performing fund
|
| Call: | Automatically at par if each fund closes at or above initial level on any quarterly call observation date
|
| Initial levels: | $153.69 for iShares and $335.84 for SPDR
|
| Coupon barrier levels: | $99.899 for iShares and $218.296 for SPDR; 65% of initial levels
|
| Final barrier levels: | $99.899 for iShares and $218.296 for SPDR; 65% of initial levels
|
| Pricing date: | Sept. 17
|
| Settlement date: | Sept. 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.057%
|
| Cusip: | 17324XZ52
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