By Wendy Van Sickle
Columbus, Ohio, Nov. 20 – Citigroup Global Markets Holdings Inc. priced $1 million of autocallable contingent coupon equity-linked securities due Nov. 8, 2021 linked to the least performing of the Industrial Select Sector SPDR fund and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 14% per year if the least-performing ETF closes at or above its coupon barrier value, 80% of its initial share price, on the valuation date for that quarter.
The notes will be automatically called at par if the least-performing ETF closes at or above its initial price on any quarterly call valuation date after six months.
The payout at maturity will be par unless the least-performing ETF finishes below its final barrier value, 80% of its initial share price, in which case investors will receive a fixed number of shares of the worst performing underlying equal to $1,000 divided by that fund’s initial share price.
The notes are guaranteed by Citigroup Inc.
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 ETFs: | Industrial Select Sector SPDR fund and Technology Select Sector SPDR fund
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Amount: | $1 million
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Maturity: | Nov. 8, 2021
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Coupon: | 14% per year, payable quarterly if least-performing ETF closes at or above coupon barrier value on valuation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless least-performing ETF finishes below final barrier value, in which case a fixed number of shares of the worst performing underlying equal to $1,000 divided by that fund’s initial share price
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Call: | Automatically at par if the least-performing ETF closes at or above its initial price on any quarterly call valuation date after six months
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Initial share prices: | $80.22 for Industrial, $113.10 for Technology
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Coupon barriers: | $64.176 for Industrial, $90.48 for Technology, or 80% of initial share prices
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Barrier values: | $64.176 for Industrial, $90.48 for Technology, or 80% of initial share prices
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Pricing date: | Nov. 3
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Settlement date: | Nov. 6
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17324X6P0
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