By Wendy Van Sickle
Columbus, Ohio, March 4 – Citigroup Global Markets Holdings Inc. priced $2.76 million of autocallable contingent coupon equity-linked securities due Feb. 25, 2022 linked to the least performing of the VanEck Vectors Gold Miners ETF and the VanEck Vectors Junior Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 13% if each ETF closes at or above its 70% coupon barrier value on the observation date for that quarter, plus any previously unpaid coupon.
The notes will be called at par if each ETF closes at or above its initial level on any quarterly call review date.
The payout at maturity will be par unless any ETF finishes below its 70% final barrier level, in which case the payout will be a number of shares of the worst performing ETF equal to $1,000 divided by that ETF’s initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying ETFs: | VanEck Vectors Gold Miners ETF and VanEck Vectors Junior Gold Miners ETF
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| Amount: | $2.76 million
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| Maturity: | Feb. 25, 2022
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| Coupon: | 13% annualized, payable quarterly if each ETF closes at or above coupon barrier on valuation date for that quarter, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | If each ETF finishes at or above final barrier level, par; otherwise, number of shares of worst performing ETF equal to $1,000 divided by that ETF’s initial share price or cash value thereof
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| Call: | At par if each ETF closes at or above its initial level on any quarterly call review date
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| Initial levels: | $32.74 for Gold Miners, $47.54 for Junior Gold Miners
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| Coupon barriers: | $22.918 for Gold Miners, $33.278 for Junior Gold Miners; 70% of initial levels
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| Final barrier levels: | $22.918 for Gold Miners, $33.278 for Junior Gold Miners; 70% of initial levels
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| Pricing date: | Feb. 19
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| Settlement date: | Feb. 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328NCN6
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