By Kiku Steinfeld
Chicago, Oct. 4 – Citigroup Global Markets Holdings Inc. priced $2 million of autocallable contingent coupon notes due Sept. 17, 2024 linked to the iShares PHLX semiconductor exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes will pay a contingent coupon at the rate of 10% per year if the fund closes at or above its coupon barrier level, 69.05% of its initial level, on the valuation date for that quarter.
After one year, the notes will be automatically called at par plus the coupon if the fund closes at or above its initial level on any quarterly valuation date other than the final one.
If the fund closes at or above its final barrier level, 69.05% of its initial level, the payout at maturity will be par plus the coupon. Otherwise, investors will lose 1% for every 1% that the fund declines from its initial level.
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 fund: | iShares PHLX Semiconductor ETF
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| Amount: | $2,000,000
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| Maturity: | Sept. 17, 2024
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| Contingent coupon: | 10%, payable quarterly if fund closes at or above coupon barrier on any quarterly valuation date
|
| Price: | Par
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| Payout at maturity: | Par plus coupon unless fund finishes below final barrier level, in which case full exposure to decline of fund
|
| Call: | Automatically at par plus coupon on any quarterly valuation date from September 2020 to June 2024
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| Initial level: | $219.16
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| Final barrier: | $151.33, 69.05% of initial level
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| Pricing date: | Sept. 12
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| Settlement date: | Sept. 17
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | None
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| Cusip: | 17327TUR5
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