By William Gullotti
Buffalo, N.Y., March 23 – Citigroup Global Markets Holdings Inc. priced $6.59 million of autocallable contingent coupon equity-linked securities due March 23, 2027 linked to the worst performing of the VanEck Vectors Junior Gold Miners ETF 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 12.5% if each ETF 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 ETF closes at or above its initial level, on any monthly valuation date after one year.
If each ETF finishes at or above its 80% buffer level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline of the worst performer below the 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 funds: | SPDR S&P Regional Banking ETF, VanEck Vectors Junior Gold Miners ETF
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| Amount: | $6.59 million
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| Maturity: | March 23, 2027
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| Coupon: | 12.5% 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: | If each ETF finishes at or above buffer level, par plus final coupon; otherwise, lose 1% for every 1% decline of the worst performer below 20%
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| Call: | Automatically at par plus coupon if each ETF closes at or above initial level on any monthly valuation date after one year
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| Initial levels: | $71.89 for SPDR, $47.06 for VanEck
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| Coupon barrier levels: | $57.512 for SPDR, $37.648 for VanEck; 80% of initial levels
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| Buffer levels: | $57.512 for SPDR, $37.648 for VanEck; 80% of initial levels
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.5%
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| Cusip: | 17330AUP5
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