By Sarah Lizee
Olympia, Wash., March 6 – Citigroup Global Markets Holdings Inc. priced $597,000 of autocallable contingent coupon equity-linked securities due March 2, 2022 linked to the worst performing of the SPDR S&P Oil & Gas Exploration & Production ETF and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a quarterly contingent coupon at the rate of 12% 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 any ETF finishes below its initial level and any index has ever closed below its barrier value, 60% of its initial share price, on any day during the life of the notes, 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 SPDR S&P Biotech ETF
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| Amount: | $597,000
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| Maturity: | March 2, 2022
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| Coupon: | 12% 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 any ETF finishes below its initial level and any index has ever closed below its barrier value on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing ETF declines from its initial price
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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: | $91.07 for biotech ETF, $16.72 for oil ETF
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| Coupon barriers: | $54.642 for biotech ETF, $10.032 for oil ETF, or 60% of initial share prices
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| Barrier values: | $54.642 for biotech ETF, $10.032 for oil 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: | 2.75%
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| Cusip: | 17327T6X9
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