By Wendy Van Sickle
Columbus, Ohio, April 30 – Citigroup Global Markets Holdings Inc. priced $10 million of contingent income autocallable securities due April 29, 2022 linked to the VanEck Vectors Oil Services ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If the ETF shares close at or above the downside threshold level, 80% of the initial share price, on a monthly determination date, the notes will pay a contingent payment that month at an annualized rate of 15.7%.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial share price on any monthly determination date other than the final determination date.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will receive 7.09784 ETF shares.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management is acting as dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying ETF: | VanEck Vectors Oil Services ETF
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| Amount: | $10 million
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| Maturity: | April 29, 2022
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| Coupon: | 15.7% per year, payable monthly if shares close at or above downside threshold level on determination date for that month
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| Price: | Par
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| Payout at maturity: | If ETF finishes at or above downside threshold, par; otherwise, 7.09784 ETF shares
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| Call: | At par plus contingent coupon if shares close at or above initial price on any determination date other than the final date
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| Initial share price: | $176.11
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| Downside threshold: | $140.888, 80% of initial share price
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| Pricing date: | April 23
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| Settlement date: | April 26
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| Agent: | Citigroup Global Markets Inc.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.2%
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| Cusip: | 17328NPF9
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