By Wendy Van Sickle
Columbus, Ohio, July 21 – Citigroup Global Markets Holdings Inc. priced $1 million of autocallable contingent coupon equity-linked securities due July 21, 2021 tied to the worst performing of the S&P MidCap 400 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 15.25% per year, payable quarterly if each asset closes above its coupon barrier, 75% of its initial level, on the observation date for that period.
The notes will be automatically redeemed at par if the worst-performing asset closes at or above its initial level on any quarterly autocall date.
If the notes are not called and each asset closes at or above its 75% barrier level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the loss of the least performing asset.
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 assets: | S&P MidCap 400 index, Russell 2000 index
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Amount: | $1 million
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Maturity: | July 21, 2021
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Coupon: | 15.25%, payable quarterly if assets close above coupon barrier on observation date
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Price: | Par
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Payout at maturity: | Par if each asset closes at or above barrier level; otherwise, full exposure to loss of least performing asset
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Call: | At par if worst-performing asset closes at or above initial level on any quarterly autocall date
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Initial index levels: | 1,467.564 for Russell, 1,828.59 for S&P
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Coupon barrier/barrier levels: | 1,100.673 for Russell, 1,371.435 for S&P, 75% of initial levels
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Pricing date: | July 16
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Settlement date: | July 21
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17328W6B9
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