By William Gullotti
Buffalo, N.Y., May 19 – Citigroup Global Markets Holdings Inc. priced $3.13 million of autocallable contingent coupon equity-linked securities due April 23, 2026 linked to the worst performing of the S&P 500 index and the SPDR S&P Regional Banking 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 monthly coupon at an annual rate of 4.35% if each underlying closes at or above the coupon barrier level, 80% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each underlying closes at or above its initial level, on any monthly valuation date after one year.
If the notes are not called and each underlying finishes at or above final barrier level, 80% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be exposed to the downside of the worst performer beyond the 20% buffer.
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 assets: | S&P 500 index and the SPDR S&P Regional Banking ETF
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Amount: | $3,130,000
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Maturity: | April 23, 2026
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Coupon: | 4.35% annualized rate, payable monthly if each underlying 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 contingent coupon if each underlying closes at or above final barrier; otherwise, investors will be exposed to the downside of the worst performer beyond buffer
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Call: | Automatically at par plus coupon if each underlying closes at or above initial level on any monthly valuation date after one year
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Initial levels: | 4,163.26 for S&P, $67.29 for SPDR
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Coupon barrier levels: | 3,330.608 for S&P, $53.832 for SPDR; 80% of initial levels
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Final buffer levels: | 3,330.608 for S&P, $53.832 for SPDR; 80% of initial levels
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Pricing date: | April 19
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Settlement date: | April 22
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 4.25%
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Cusip: | 17329FP81
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