By William Gullotti
Buffalo, N.Y., Nov. 3 – Citigroup Global Markets Holdings Inc. priced $3.27 million of autocallable contingent coupon equity-linked securities due Oct. 29, 2026 linked to the worst performing of the VanEck Vectors Semiconductor ETF and the S&P 500 index, 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 6% if each underlier 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 underlier closes at or above its initial level, on any monthly valuation date after one year.
If the notes are not called and each underlier finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon barrier but at or above its final barrier level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying assets: | S&P 500 index, VanEck Vectors Semiconductor ETF
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| Amount: | $3,273,000
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| Maturity: | Oct. 29, 2026
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| Coupon: | 6% annualized rate, payable monthly if each underlier closes at or above coupon barrier level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each underlier closes at or above coupon barrier; if the worst performer finishes below coupon barrier but at or above final barrier, par; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
|
| Call: | Automatically at par plus coupon if each underlier closes at or above initial level on any monthly valuation date after one year
|
| Initial levels: | $270.04 for ETF, 4,574.79 for S&P
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| Coupon barrier levels: | $216.032 for ETF, 3,659.832 for S&P; 80% of initial levels
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| Final barrier levels: | $162.024 for ETF, 2,744.874 for S&P; 60% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 29
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.75%
|
| Cusip: | 17329UH53
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