By William Gullotti
Buffalo, N.Y., Aug. 26 – Citigroup Global Markets Holdings Inc. priced $250,000 of autocallable contingent coupon equity-linked securities due March 28, 2024 linked to the worst performing of the VanEck Vectors Oil Services ETF and the Energy Select Sector SPDR Fund, 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 annual rate of 14.1% if each ETF closes at or above the coupon barrier level, 85% 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 after six months.
If the notes have not been called, the payout at maturity will be par plus the final coupon unless either ETF finishes below its 60% barrier value, in which case investors will lose 1% for every 1% decline of the worst performer from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying funds: | Energy Select Sector SPDR Fund, VanEck Vectors Oil Services ETF
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| Amount: | $250,000
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| Maturity: | March 28, 2024
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| Coupon: | 14.1% annualized rate, payable monthly if each ETF closes at or above coupon barrier level, on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless either ETF finishes below its 60% barrier value, in which case investors will lose 1% for every 1% decline of the worst performer from its initial level
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| Call: | Automatically at par plus coupon if each ETF closes at or above initial level on any quarterly valuation date after six months
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| Initial levels: | $55.05 for SPDR, $231.69 for VanEck
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| Coupon barrier levels: | $46.793 for SPDR, $196.937 for VanEck; 85% of initial levels
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| Final barrier levels: | $33.03 for SPDR, $139.014 for VanEck; 60% of initial levels
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| Pricing date: | June 24
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| Settlement date: | June 29
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17329FT95
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