By Wendy Van Sickle
Columbus, Ohio, Dec. 14 – Citigroup Global Markets Holdings Inc. priced $2.24 million of autocallable contingent coupon equity-linked securities due Dec. 3, 2021 linked to the least performing of the SPDR S&P 500 ETF trust and the Invesco QQQ trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 7% per year if the least-performing asset closes at or above its coupon barrier value, 78% of its initial share price, on the valuation date for that quarter.
The notes will be automatically called at par if the least-performing asset closes at or above 95% of its initial price on any quarterly call valuation date.
The payout at maturity will be par unless the least-performing asset finishes below its final barrier level, 78% of its initial share price, in which case investors will have exposure to the loss of the worst performing underlying asset.
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 assets: | SPDR S&P 500 ETF trust and Invesco QQQ trust, series 1
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| Amount: | $2,238,000
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| Maturity: | Dec. 3, 2021
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| Coupon: | 7% per year, payable quarterly if least-performing asset closes at or above coupon barrier value on valuation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless least-performing asset finishes below buffer, in which case exposure to loss of worst performing asset
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| Call: | Automatically at par if the least-performing asset closes at or above 95% of its initial price on any quarterly call valuation date
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| Initial share prices: | $362.06 for S&P, $299.62 for QQQ
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| Coupon/final barriers: | $282.407 for S&P, $233.704 for QQQ, or 78% of initial share prices
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 3
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324X5Q9
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