By Taylor Fox
New York, Nov. 2 – Citigroup Global Markets Holdings Inc. priced $725,000 of autocallable contingent coupon equity-linked securities due Oct. 15, 2025 linked to the worst 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.
The notes will pay a contingent semiannual coupon at an annual rate of 7% if each fund closes at or above the coupon barrier price, 65% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each fund closes at or above its initial price, on any semiannual valuation date.
If the notes are not called and each fund finishes at or above its final barrier price, 65% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will receive shares of the worst performer equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent of those shares.
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 funds: | iShares Russell 2000 ETF and the SPDR S&P 500 ETF Trust
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| Amount: | $725,000
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| Maturity: | Oct. 15, 2025
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| Coupon: | 7% annualized rate, payable semiannually if each fund closes at or above coupon barrier price, on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each fund closes at or above final barrier; otherwise, number of shares of the worst performer equal to the principal amount divided by initial share price of worst performing fund or, at issuer’s option, cash equivalent
|
| Call: | Automatically at par plus coupon if each fund closes at or above initial level on any semiannual valuation date
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| Initial levels: | $156.62 for Russell and $334.93 for S&P
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| Coupon barrier levels: | $101.803 for Russell and $217.705 for S&P, 65% of initial levels
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| Final barrier levels: | $101.803 for Russell and $217.705 for S&P, 65% of initial levels
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| Equity ratios: | 6.38488 for Russell and 2.98570 for S&P
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| Pricing date: | Oct. 7
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| Settlement date: | Oct. 15
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324X4G2
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