Chicago, March 9 – Citigroup Global Markets Holdings Inc. priced $600,000 of autocallable contingent coupon equity-linked securities due Feb. 28, 2025 linked to the least performing of the shares of Energy Select Sector SPDR fund and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 8% 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 period.
Starting in February 2021, the notes will be automatically called at par if the least-performing ETF closes at or above its initial share price on any monthly valuation date.
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 be exposed to the losses of the least-performing ETF beyond the 20% buffer.
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: | Energy Select Sector SPDR fund and the SPDR S&P Biotech ETF
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| Amount: | $600,000
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| Maturity: | Feb. 28, 2025
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| Coupon: | 8% per year, payable monthly if least-performing ETF closes at or above coupon barrier value on valuation date for that period
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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 exposure to the losses of the least-performing ETF beyond 20% buffer
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| Call: | Automatically at par if least-performing ETF closes at or above initial share price on any monthly valuation date from February 2021
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| Initial share prices: | $49.36 for energy, $91.07 for biotech
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| Coupon barriers: | $39.488 for energy, $72.856 for biotech, or 80% of initial share prices
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| Barrier values: | $39.488 for energy, $72.856 for biotech, or 80% of initial share prices
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| Pricing date: | Feb. 25
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| Settlement date: | Feb. 28
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17327T4A1
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