By William Gullotti
Buffalo, N.Y., July 30 – Citigroup Global Markets Holdings Inc. priced $595,000 of 0% autocallable securities due July 31, 2024 tied to the ARK Genomic Revolution ETF and the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each ETF closes at or above of its initial level on any annual valuation date, the notes will be called at par plus an annual premium of 10.3%.
If each ETF finishes at or above its initial level, the payout at maturity will be par plus 30.9%.
If the least performing ETF finishes below its initial level but not below the barrier level, 50% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing ETF 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 securities
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Underlying funds: | ARK Genomic Revolution ETF, ARK Innovation ETF
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Amount: | $595,000
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Maturity: | July 31, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each ETF finishes at or above its initial level, par plus 30.9%; if the least performing ETF finishes below its initial level but not below the barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing ETF from its initial level
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Call: | If each ETF closes at or above its call level on any annual valuation date, the notes will be called at par plus an annual premium of 10.3%
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Initial levels: | $121.60 for Innovation, $83.98 for Genomic
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Barriers: | $60.80 for Innovation, $41.99 for Genomic; 50% of initial levels
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Pricing date: | July 26
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Settlement date: | July 29
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2.95%
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Cusip: | 17329QD56
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