By Wendy Van Sickle
Columbus, Ohio, Oct. 2 – Citigroup Global Markets Holdings Inc. priced $634,000 of 0% autocallable securities due Sept. 29, 2022 linked to the worst performing of the iShares Silver Trust and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each ETF closes at or above 90% of its initial level on any quarterly valuation date after one year, the notes will be called at par plus a premium of 6.5% a year.
If each ETF finishes at or above its initial level the payout will be par plus the least-performing ETF return. If the least performing ETF falls but not below the buffer level, 85% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing ETF beyond the 15% buffer.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying ETFs: | iShares Silver Trust and VanEck Vectors Gold Miners ETF
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| Amount: | $634,000
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| Maturity: | Sept. 29, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each ETF finishes at or above 90% of its initial level par plus least-performing ETF return; if either ETF falls but not below buffer level, par; otherwise, 1% loss for each 1% decline of the worst performing ETF beyond 15% buffer
|
| Call: | Automatically at par plus an annualized premium of 6.5% if each ETF closes at or above its initial level on any quarterly valuation date after one year
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| Initial levels: | $21.30 for silver, $38.42 for gold
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| Buffer levels: | $18.105 for silver, $32.657 for gold, 85% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17328WAS7
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