By Wendy Van Sickle
Columbus, Ohio, Aug. 19 – Citigroup Global Markets Holdings Inc. priced $967,000 callable contingent coupon equity-linked securities due Aug. 18, 2022 tied to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a quarterly contingent coupon at an annualized rate of 12.35% if the ETF closes above 65% of its initial level on a relevant valuation date.
The notes will be callable at par plus the coupon on any quarterly valuation date other than the final one.
If the notes are not called, the payout at maturity will be par plus the coupon if the ETF finishes above its 65% final barrier value.
Otherwise, investors will receive 24.78315 shares of the ETF, or the cash value of those shares, should the issuer prefer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying ETF: | VanEck Vectors Gold Miners ETF
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| Amount: | $967,000
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| Maturity: | Aug. 18, 2022
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| Coupon: | 12.35% annual rate, payable quarterly if ETF finishes above coupon barrier on relevant valuation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon if ETF finishes above final barrier value, otherwise full exposure to losses of ETF, payable either in 24.78315shares of ETF or cash value of those shares at issuer’s option
|
| Call option: | At par plus coupon on any quarterly valuation date other than final one
|
| Initial level: | $40.35
|
| Coupon barrier: | $26.228, 65% of initial level
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| Final barrier: | $26.228, 65% of initial level
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| Pricing date: | Aug. 14
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| Settlement date: | Aug. 19
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17328WF86
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