By Wendy Van Sickle
Columbus, Ohio, Oct. 7 – Citigroup Global Markets Holdings Inc. priced $1.71 million of 0% autocallable securities due July 25, 2024 linked to the common stocks of Goldman Sachs Group, Inc., Square, Inc. and United States Steel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Citigroup will call the notes at par of $1,000 plus a call premium of 22% per year if the closing level of each asset is greater than or equal to its call level, 87% of its initial level, on any quarterly call date.
If each asset finishes at or above its call level, the payout at maturity will be par plus 66%.
Investors will receive par if the final level of any asset is less than its call level but each asset finishes at or above its trigger level, 60% of its initial level.
Otherwise, investors will lose 1% for each 1% decline of the worst performing asset from its initial level.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying assets: | Goldman Sachs Group, Inc., Square, Inc. and United States Steel Corp.
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| Amount: | $1,709,000
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| Maturity: | July 25, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 66% if each asset finishes at or above call level; par if any asset finishes below call level but each asset finishes at or above trigger level; otherwise, investors will be fully exposed to decline of least performing asset
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| Call: | Automatically at par plus annualized premium of 22% if each asset closes at or above call level on any quarterly call date
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| Initial levels: | $364.76 for Goldman, $246.47for Square, $22.06 for United States Steel
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| Call levels: | $317.341 for Goldman, $214.429 for Square, $19.192 for United States Steel; 87% of initial levels
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| Trigger levels: | $218.856 for Goldman, $147.882 for Square, $13.236 for United States Steel; 60% of initial levels
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| Pricing date: | July 20
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| Settlement date: | July 23
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4%
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| Cusip: | 17329QFG0
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