New York, Sept. 5 – Citigroup Global Markets Holdings Inc. priced $10 million of 12.3% autocallable phoenix securities due Sept. 4, 2024 linked to the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a coupon of 12.3% if the ETF closes at or above its 85% coupon barrier on the related valuation date, plus any previously unpaid coupons.
They will be called automatically starting Sept. 29 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent monthly review date.
The payout at maturity will be par if the ETF finishes at or above its 85% final barrier. If the ETF ends below the final barrier investors will lose 117.647% of the decline beyond the final barrier.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Autocallable phoenix securities
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Underlying ETF: | Invesco QQQ Trust, Series 1
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Amount: | $10 million
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Maturity: | Sept. 4, 2024
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Coupon: | 12.3% if the ETF closes at or above its 85% coupon barrier on the related valuation date, plus any previously unpaid coupons
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Price: | Par
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Payout at maturity: | If ETF finishes at or above final barrier par; if ETF finishes below the final barrier investors lose 117.647% of decline beyond final barrier
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Initial level: | $366.76
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Final barrier: | $311.746, 85% of initial level
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Coupon barrier: | $311.746, 85% of initial level
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Downside leverage: | 117.647%
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Call: | Automatically starting Sept. 29 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent monthly review date
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Pricing date: | Aug. 29
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Settlement date: | Sept. 1
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.1%
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Cusip: | 17291QQM9
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