By William Gullotti
Buffalo, N.Y., Nov. 18 – Citigroup Global Markets Holdings Inc. priced $1.24 million of autocallable contingent coupon equity-linked securities due Sept. 26, 2025 linked to the worst performing of the Invesco S&P 500 Equal Weight ETF and the Nasdaq-100 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 quarterly coupon at an annual rate of 10% if each underlier closes at or above the coupon barrier level, 70% 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 quarterly valuation date after six months.
If the notes are not called and each underlier finishes at or above final barrier level, 70% of its initial level, the payout at maturity will be par plus the final coupon. 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.
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Guarantor: | Citigroup Inc.
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Issue: | Autocallable contingent coupon equity-linked securities
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Underlying assets: | Nasdaq-100 index, Invesco S&P 500 Equal Weight ETF
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Amount: | $1.24 million
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Maturity: | Sept. 26, 2025
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Coupon: | 10% annualized rate, payable quarterly if each underlier closes at or above coupon barrier level, on valuation date for that period
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Price: | Par
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Payout at maturity: | Par plus contingent coupon if each underlier closes at or above final barrier; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
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Call: | Automatically at par plus coupon if each underlier closes at or above initial level on any quarterly valuation date after six months
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Initial levels: | $130.48 for ETF, 11,311.24 for Nasdaq
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Coupon barrier levels: | $91.336 for ETF, 7,917.868 for Nasdaq; 70% of initial levels
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Final barrier levels: | $91.336 for ETF, 7,917.868 for Nasdaq; 70% of initial levels
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Pricing date: | Sept. 23
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Settlement date: | Sept. 28
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2%
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Cusip: | 17330RUK9
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