By Wendy Van Sickle
Columbus, Ohio, May 3 – Citigroup Global Markets Holdings Inc. priced $270,000 of autocallable contingent coupon equity linked securities due April 30, 2024 linked to the worst performing of the VanEck Vectors Gold Miners ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Global Markets Inc.
Each quarter, the notes will pay a contingent coupon at an annual rate of 8.75% if each underlying asset closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes will be called at par if each asset closes at or above its initial level on any observation date after one year.
The payout at maturity will be par plus the contingent coupon, if any, unless any underlying asset finishes below its 60% barrier level, in which case investors will be fully exposed to any losses of the worst performing asset.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable contingent coupon equity linked securities
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| Underlying ETFs: | VanEck Vectors Gold Miners ETF and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $270,000
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| Maturity: | April 30, 2024
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| Coupon: | 8.75% annualized, payable each quarter that each asset closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus final contingent coupon, if any, unless any index finishes below final barrier level, in which case 1% loss for each 1% decline of worst performing index
|
| Call: | At par if each asset closes at or above its initial level on any observation date after one year
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| Initial levels: | $20.87 for Gold Miners, $31.79 for oil ETF
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| Coupon/final barriers: | $19.074 for Gold Miners, $12.522 for oil ETF; 60% of initial levels
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| Pricing date: | April 25
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| Settlement date: | April 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17326YDP8
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