By Wendy Van Sickle
Columbus, Ohio, Aug. 25 – Citigroup Global Markets Holdings Inc. priced $5.41 million of autocallable contingent coupon equity-linked securities due Aug. 26, 2024 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the VanEck Vectors Junior Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 18.1% per year if the lesser-performing ETF closes at or above its coupon barrier value, 70% of its initial share price, on the observation date for that month.
The notes will be automatically called at par if the lesser-performing ETF closes at or above its initial share price on any quarterly call observation date after one year.
The payout at maturity will be par unless any ETF finishes below its 70% final barrier value, in which case investors will be fully exposed to the loss of the worst-performing ETF.
The notes are guaranteed by Citigroup Inc.
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
|
| Underlying ETFs: | VanEck Vectors Gold Miners ETF and VanEck Vectors Junior Gold Miners ETF
|
| Amount: | $5.41 million
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| Maturity: | Aug. 26, 2024
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| Coupon: | 18.1% per year, payable monthly if lesser-performing ETF closes at or above coupon barrier value on valuation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless lesser-performing ETF finishes below final barrier level, in which case full exposure to lesser-performing ETF’s loss
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| Call: | Automatically at par if lesser-performing ETF closes at or above initial share price on any quarterly call observation date after a year
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| Initial share prices: | $40.89 for Gold Miners, $57.20 for Junior Gold Miners
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| Coupon barriers: | $28.623 for Gold Miners, $40.04 for Junior Gold Miners, 70% of initial levels
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| Final barrier levels: | $28.623 for Gold Miners, $40.04 for Junior Gold Miners, 70% of initial levels
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| Pricing date: | Aug. 21
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| Settlement date: | Aug. 26
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328WCE6
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