By Taylor Fox
New York, Feb. 16 – Citigroup Global Markets Holdings Inc. priced $515,000 of autocallable contingent coupon equity-linked securities due July 14, 2022 linked to 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 Inc.
The notes will pay a contingent monthly coupon at an annual rate of 10.9% if the ETF closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that month.
The notes will be automatically called at par plus the coupon and any previously unpaid coupons if the ETF closes at or above its initial price on any quarterly call valuation date after six months.
If the notes are not called and the ETF finishes at or above final barrier price, 70% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for each 1% decline of the fund.
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 ETF: | SPDR S&P oil & gas exploration & production ETF
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| Amount: | $515,000
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| Maturity: | July 14, 2022
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| Coupon: | 10.9% annualized rate, payable monthly if ETF closes at or above coupon barrier price on valuation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if ETF closes at or above final barrier price; otherwise, 1% loss for each 1% decline from initial level
|
| Call: | Automatically at par plus coupon if ETF closes at or above initial level on any quarterly call valuation date after six months
|
| Initial level: | $66.88
|
| Coupon barrier price: | $46.816, 70% of initial levels
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| Barrier price: | $46.816, 70% of initial levels
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 14
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.725%
|
| Cusip: | 17328YHE7
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