By Taylor Fox
New York, March 17 – Citigroup Global Markets Holdings Inc. priced $5 million of autocallable contingent coupon equity-linked securities due March 10, 2026 linked to the worst performing of the iShares Silver trust and the VanEck Vectors Junior 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 monthly coupon at an annual rate of 10% if each asset closes at or above the coupon barrier price, 80% of the initial price, on the valuation date for that quarter, plus any previously unpaid coupon.
The notes will be called at par on any monthly call valuation date after one year.
If the notes are not called and each asset finishes at or above final barrier price, 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.
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: | iShares Silver trust and VanEck Vectors Junior Gold Miners ETF
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| Amount: | $5 million
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| Maturity: | March 10, 2026
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| Coupon: | 10% annualized rate, payable quarterly if each asset closes at or above coupon barrier price on valuation date for that quarter, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each asset closes at or above final barrier; otherwise, investors will be exposed to the downside of the worst performer
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| Call: | At par plus coupon if each asset closes at or above initial level on any monthly call valuation date after one year
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| Initial levels: | $23.36 for silver, $45.61 for gold
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| Coupon barrier levels: | $18.688 for silver, $36.488 for gold, 80% of initial levels
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| Final barrier levels: | $18.688 for silver, $36.488 for gold, 80% of initial levels
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| Pricing date: | March 5
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| Settlement date: | March 10
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.5%
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| Cusip: | 17328YR48
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