By Wendy Van Sickle
Columbus, Ohio, July 9 – Citigroup Global Markets Holdings Inc. priced $4.25 million of autocallable contingent coupon equity-linked securities due Feb. 29, 2024 linked to the worst performing of the Energy Select Sector SPDR fund and the VanEck Vectors Oil Services 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 9% if each underlying fund closes at or above the coupon barrier level, 80% of the initial level, on the valuation date for that period.
Beginning Nov. 26, the notes will be automatically called at par plus the coupon if each underlying fund closes at or above its initial level on any monthly valuation date.
If the notes have not been called, the payout at maturity will be par unless any fund finishes below its 80% buffer level, in which case investors will be exposed to the loss of the laggard ETF beyond 20%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying funds: | Energy Select Sector SPDR fund, VanEck Vectors Oil Services ETF
|
| Amount: | $4,245,000
|
| Maturity: | Feb. 29, 2024
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| Coupon: | 9% annualized rate, payable monthly if each underlying closes at or above coupon barrier level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any fund finishes below buffer level, in which case exposure to loss of laggard ETF beyond 20%
|
| Call: | Beginning Nov. 26, automatically at par plus coupon if each underlying closes at or above initial level on any monthly valuation date
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| Initial levels: | $51.61 for Energy, $207.40 for Oil Services
|
| Coupon barrier levels: | $41.288 for Energy, $165.92 for Oil Services; 80% of initial levels
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| Buffer levels: | $41.288 for Energy, $165.92 for Oil Services; 80% of initial levels
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| Pricing date: | May 25
|
| Settlement date: | May 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3%
|
| Cusip: | 17329FHH0
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