By William Gullotti
Buffalo, N.Y., Nov. 10 – Citigroup Global Markets Holdings Inc. priced $3.28 million of 0% market-linked autocallable securities with contingent downside due May 10, 2023 linked to the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly interest payment at the rate of 12% per year if the ETF closes at or above the coupon barrier level, 75% of the initial share level, on the observation date for that period.
The notes will be automatically called at par plus coupon if the ETF closes at or above initial levels on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless the ETF falls by more than 25%, in which case investors lose 1% for every 1% decline from its initial level.
Citigroup Global Markets Inc. and Wells Fargo Advisors are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked autocallable securities with contingent coupon and contingent downside
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| Underlying ETF: | ARK Innovation ETF
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| Amount: | $3,277,000
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| Maturity: | May 10, 2023
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| Coupon: | 12% annual rate, payable quarterly if the ETF closes at or above coupon barrier level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless the ETF falls by more than 25%, in which case full exposure to decline from initial level
|
| Call: | Automatically at par plus coupon if the ETF closes at or above initial level on any quarterly observation date after six months
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| Initial level: | $122.29
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| Coupon barrier: | $91.7175; 75% of initial level
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| Threshold level: | $91.7175; 75% of initial level
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| Pricing date: | Nov. 5
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| Settlement date: | Nov. 10
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| Agents: | Citigroup Global Markets Inc. and Wells Fargo Advisors
|
| Fees: | 1.525%
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| Cusip: | 17329UBB6
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