By Wendy Van Sickle
Columbus, Ohio, Dec. 7 – Citigroup Global Markets Holdings Inc. priced $315,000 of autocallable contingent coupon equity-linked securities due Aug. 22, 2024 linked to the worst performing of the VanEck Vectors Junior Gold Miners ETF 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 will pay a contingent quarterly coupon at an annual rate of 7.6% if each ETF closes at or above the coupon barrier level, 70% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each ETF closes at or above its initial level, on any quarterly valuation date.
If the notes have not been called, the payout at maturity will be par unless either ETF closes below its 70% barrier value. Otherwise, investors will be fully exposed to the decline of the least performing ETF.
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, VanEck Vectors Junior Gold Miners ETF
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| Amount: | $315,000
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| Maturity: | Aug. 22, 2024
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| Coupon: | 7.6% annualized rate, payable quarterly if each ETF closes at or above coupon barrier level, on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless either ETF closes below its barrier value; otherwise, investors will be fully exposed to decline of worst performer
|
| Call: | Automatically at par plus coupon if each ETF closes at or above initial level on any quarterly valuation date
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| Initial levels: | $32.25 for Gold Miners, $41.51 for Junior Gold Miners
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| Coupon barrier levels: | $22.575 for Gold Miners, $29.057 for Junior Gold Miners; 70% of initial levels
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| Final barrier levels: | $22.575 for Gold Miners, $29.057 for Junior Gold Miners; 70% of initial levels
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| Pricing date: | Aug. 17
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| Settlement date: | Aug. 20
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.95%
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| Cusip: | 17329QMS6
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