Chicago, Dec. 20 – Citigroup Global Markets Holdings Inc. priced $1 million of autocallable contingent coupon equity-linked securities due June 1, 2027 linked to the lesser performing of the Russell 2000 index and the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 12.4% per year if the lesser-performing underlier closes at or above its coupon barrier value, 75% of its initial share price, on the valuation date for that period.
Beginning in November 2020, the notes will be automatically called at par plus the coupon if the lesser-performing underlier closes at or above its initial level on any monthly observation date.
The payout at maturity will be par unless the lesser-performing underlier finishes below its final barrier value, 75% of its initial level, in which case investors will lose 1% for every 1% that the lesser-performing underlier declines from its initial level.
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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| Underliers: | Russell 2000 and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1,001,000
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| Maturity: | June 1, 2027
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| Coupon: | 12.4% per year, payable monthly if lesser-performing underlier closes at or above coupon barrier value on valuation date for that period
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| Price: | Par
|
| Payout at maturity: | Par unless lesser-performing underlier finishes below final barrier value, in which case 1% loss for every 1% that lesser-performing underlier declines from initial level
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| Call: | Beginning in November 2020, automatically at par plus coupon if lesser-performing underlier closes at or above initial level on any monthly observation date
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| Initial levels: | 1,624.231 for index and $20.70 for ETF
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| Coupon barriers: | 1,218.173 for index and $15.525 for ETF, or 75% of initial levels
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| Final barriers: | 1,218.173 for index and $15.525 for ETF, or 75% of initial levels
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| Pricing date: | Nov. 26
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| Settlement date: | Dec. 2
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.225%
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| Cusip: | 17327TTA4
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