By William Gullotti
Buffalo, N.Y., Sept. 27 – Citigroup Global Markets Holdings Inc. priced $1.35 million of callable contingent coupon equity-linked securities due April 10, 2025 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 are guaranteed by Citigroup Inc.
The notes pay a contingent monthly coupon at an annualized rate of 10.5% if each ETF closes at or above its coupon barrier level, 75% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any quarterly valuation date after one year.
If the notes are not redeemed early, the payout will be par plus the final coupon if each ETF finishes at or above its coupon barrier.
If the worst performer finishes below its coupon barrier but at or above its 70% final barrier, investors will receive par. Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.
Citigroup Global Markets Inc.is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying funds: | iShares Silver Trust, VanEck Vectors Gold Miners ETF
|
| Amount: | $1,349,000
|
| Maturity: | April 10, 2025
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| Contingent coupon: | 10.5% per year, payable monthly if each fund closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon if each ETF finishes at or above coupon barrier; if worst performer finishes below coupon barrier but at or above final barrier level, par; otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level
|
| Call option: | In whole at par plus any coupon due on any quarterly valuation date after one year
|
| Initial levels: | $24.24 for Silver, $34.56 for Gold
|
| Coupon barriers: | $18.18 for Silver, $25.92 for Gold; 75% of initial levels
|
| Barrier levels: | $16.968 for Silver, $24.192 for Gold; 70% of initial levels
|
| Pricing date: | July 7
|
| Settlement date: | July 12
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.95%
|
| Cusip: | 17329Q6A3
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