By Sarah Lizee
Olympia, Wash., March 5 – Citigroup Global Markets Holdings Inc. priced $25,000 of autocallable contingent coupon equity-linked securities due Feb. 28, 2025 linked to the worst performing of the SPDR S&P Oil & Gas Exploration & Production ETF and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a quarterly contingent coupon at the rate of 10.4% per year if the least-performing ETF closes at or above its coupon barrier value, 60% of its initial share price, on the relevant valuation date.
Starting in August, the notes will be automatically called at par if the least-performing ETF closes at or above its initial share price on any valuation date.
The payout at maturity will be par unless the least-performing ETF finishes below its final barrier value, 60% of its initial share price, in which case investors will lose 1% for every 1% that the least-performing ETF declines from its initial 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: | SPDR S&P Oil & Gas Exploration & Production ETF and VanEck Vectors Gold Miners ETF
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| Amount: | $25,000
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| Maturity: | Feb. 28, 2025
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| Coupon: | 10.4% 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 buffer value, in which case 1% loss for every 1% that least-performing ETF declines from initial level
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| Call: | Automatically at par if least-performing ETF closes at or above initial share price on any semiannual valuation date from August
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| Initial share prices: | $16.72 for oil ETF, $29.97 for gold ETF
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| Coupon barriers: | $10.032 for oil ETF, $17.982 for gold ETF, or 60% of initial share prices
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| Barrier values: | $10.032 for oil ETF, $17.982 for gold ETF, or 60% 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: | 3%
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| Cusip: | 17327T5Q5
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