By Wendy Van Sickle
Columbus, Ohio, March 16 – Citigroup Global Markets Holdings Inc. priced $1.22 million of autocallable contingent coupon equity-linked securities due March 7, 2022 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 monthly contingent coupon at the rate of 10% per year if the least-performing ETF closes at or above its coupon barrier value, 75% of its initial share price, on the relevant valuation date.
The notes will be automatically called at par if the least-performing ETF closes at or above its initial share price on any quarterly call valuation date after one year.
The payout at maturity will be par unless any ETF finishes below its barrier value, 75% of its initial share price, in which case the payout will be a number of shares of the least-performing ETF equal to $1,000 divided by that ETF's initial share price.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| 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 and Production ETF, VanEck Vectors Gold Miners ETF
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| Amount: | $1,224,000
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| Maturity: | March 7, 2022
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| Coupon: | 10% per year, payable monthly if least-performing ETF closes at or above coupon barrier value on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any ETF finishes below its barrier value, in which case a number of shares of the least-performing ETF equal to $1,000 divided by its initial share price
|
| Call: | Automatically at par if least-performing ETF closes at or above initial share price on any quarterly call valuation date after one year
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| Initial share prices: | $15.37 for oil and gas ETF, $27.29 for gold ETF
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| Coupon barriers: | $11.528 for oil and gas ETF, $20.468 for gold ETF or 75% of initial share prices
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| Buffer values: | $11.528 for oil and gas ETF, $20.468 for gold ETF or 75% of initial share prices
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| Pricing date: | March 2
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| Settlement date: | March 5
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.55%
|
| Cusip: | 17328V6J4
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