By Taylor Fox
New York, Nov. 11 – Citigroup Global Markets Holdings Inc. priced $750,000 of autocallable contingent coupon equity-linked securities due Oct. 17, 2025 linked to the worst performing of the shares of the VanEck Vectors Gold Miners ETF and the iShares Silver 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 monthly coupon at an annualized rate of 7.5% if each fund closes at or above the coupon barrier price, 75% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the shares of each fund close at or above the initial share price on any quarterly call valuation date after one year.
If the notes are not called, the payout at maturity will be par unless the shares of the worst performer finish below the 75% buffer level, in which case investors will be exposed to the loss beyond the 25% buffer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying funds: | VanEck Vectors Gold Miners ETF and iShares Silver Trust
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| Amount: | $750,000
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| Maturity: | Oct. 17, 2025
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| Coupon: | 7.5% per year, payable monthly if closing price of shares of both funds is greater than or equal to coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless shares of worst performer finish below buffer level, in which case exposure to decline beyond 25%
|
| Call: | At par plus contingent coupon if closing share price of worst performer is greater than or equal to initial share price on any quarterly call valuation date after one year
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| Initial share prices: | $22.54 for silver and $40.96 for gold
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| Coupon barrier prices: | $16.905 for silver and $30.720 for gold, 75% of initial share price
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| Buffer levels: | $16.905 for silver and $30.720 for gold, 75% of initial share price
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| Pricing date: | Oct. 14
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| Settlement date: | Oct. 19
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4%
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| Cusip: | 17328WT57
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