By William Gullotti
Buffalo, N.Y., June 21 – Citigroup Global Markets Holdings Inc. priced $1.01 million of callable contingent coupon equity-linked securities due June 19, 2025 linked to the worst performing of the ARK Genomic Revolution ETF and the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 8.5% if each ETF closes at or above its coupon barrier level, 60% of its initial level, on the related observation date.
The notes will be callable in whole at par plus any coupon due on any quarterly valuation date after one year.
If the notes are not redeemed early, the payout will be par plus the final coupon unless any ETF finishes below 60% of its initial level, in which case investors will lose 1% for every 1% that the least performing ETF declines.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying funds: | ARK Genomic Revolution ETF, ARK Innovation ETF
|
| Amount: | $1,013,000
|
| Maturity: | June 19, 2025
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| Contingent coupon: | 8.5% per year, payable quarterly if each fund closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any ETF finishes below final barrier level, in which case investors will lose 1% for every 1% that the least performing ETF declines
|
| Call option: | In whole at par plus any coupon due on any quarterly valuation date after one year
|
| Initial levels: | $85.55 for Genomic, $115.09 for Innovation
|
| Coupon barriers: | $51.33 for Genomic, $69.054 for Innovation; 60% of initial levels
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| Barrier levels: | $51.33 for Genomic, $69.054 for Innovation; 60% of initial levels
|
| Pricing date: | June 15
|
| Settlement date: | June 18
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 17329FZ56
|
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