By Devika Patel
Knoxville, Tenn., Nov. 21 – Citigroup Global Markets Holdings Inc. priced $1.37 million of autocallable contingent coupon equity-linked securities due Nov. 22, 2017 linked to 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 11% if the fund closes at or above the barrier level, 70% of the initial level, on the valuation date for that quarter.
Beginning Feb. 17, 2017, the notes will be called at par plus the contingent coupon if the fund closes at or above the initial level on any quarterly valuation date other than the final date.
The payout at maturity will be par plus the contingent coupon unless the fund finishes below the 70% barrier level, in which case investors will receive a number of Vaneck Vectors Gold Miners shares equal to the principal divided by the initial share price, or, at the issuer’s option, the cash equivalent.
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 ETF: | Vaneck Vectors Gold Miners
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| Amount: | $1,367,000
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| Maturity: | Nov. 22, 2017
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| Coupon: | 11% per year, payable quarterly if the fund closes at or above barrier level on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final level is greater than or equal to barrier level, par plus final coupon; otherwise, 46.94836 fund shares, or, at issuer’s option, cash equivalent
|
| Call: | Beginning Feb. 17, 2017, at par plus contingent coupon if the fund closes at or above initial level on any quarterly valuation date other than the final one
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| Initial share price: | $21.30
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| Barrier level: | $14.91, 70% of initial share price
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 22
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.25%
|
| Cusip: | 17324XAC4
|
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