By Wendy Van Sickle
Columbus, Ohio, Feb. 26 – Citigroup Global Markets Holdings Inc. priced $2.25 million of autocallable contingent coupon equity-linked securities due Feb. 16, 2022 linked to the least performing of the Energy Select Sector SPDR fund and the Health Care Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 18.9% if each ETF closes at or above its 80% coupon barrier value on the observation date for that quarter.
The notes will be called at par if each ETF closes at or above its initial level on any quarterly call review date.
The payout at maturity will be par unless any ETF finishes below its 80% final barrier level, in which case the payout will be a number of shares of the worst performing ETF equal to $1,000 divided by that ETF’s initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Global Markets Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying ETFs: | Energy Select Sector SPDR fund and Health Care Select Sector SPDR fund
|
| Amount: | $2,252,000
|
| Maturity: | Feb. 16, 2022
|
| Coupon: | 18.9% annualized, payable quarterly if each ETF closes at or above coupon barrier on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes at or above final barrier level, par; otherwise, number of shares of worst performing ETF equal to $1,000 divided by that ETF’s initial share price or cash value thereof
|
| Call: | At par if each ETF closes at or above its initial level on any quarterly call review date
|
| Initial levels: | $44.02 for Energy, $116.41 for Health Care
|
| Coupon barriers: | $35.216 for Energy, $93.128 for Health Care; 80% of initial levels
|
| Final barrier levels: | $35.216 for Energy, $93.128 for Health Care; 80% of initial levels
|
| Pricing date: | Feb. 11
|
| Settlement date: | Feb. 17
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17328NEU8
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