By William Gullotti
Buffalo, N.Y., Nov. 19 – Citigroup Global Markets Holdings Inc. priced $3.23 million of market-linked securities due Nov. 19, 2024 – autocallable with contingent downside linked to the least performing of the KraneShares CSI China Internet ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called at par plus an annualized call premium of 15.5% if the ETF closes at or above its initial level on any annual observation date.
If the notes are not called, the payout at maturity will be par unless the ETF finishes below its 70% downside threshold, in which case investors will be fully exposed to the decline of the ETF from its initial level.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Market linked securities – autocallable with contingent downside
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| Underlying ETF: | KraneShares CSI China Internet ETF
|
| Amount: | $3,229,000
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| Maturity: | Nov. 19, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF falls by more than 30%, in which case 1% loss per 1% decline from initial level
|
| Call: | At par plus an annualized call premium of 15.5% if ETF closes at or above its initial level on any annual observation date
|
| Initial level: | $51.80
|
| Downside threshold: | $36.26; 70% of initial level
|
| Pricing date: | Nov. 16
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| Settlement date: | Nov. 19
|
| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
|
| Fees: | 2.625%
|
| Cusip: | 17329UHC8
|
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