By William Gullotti
Buffalo, N.Y., Jan. 10 – Citigroup Global Markets Holdings Inc. priced $1.26 million of autocallable contingent coupon equity-linked securities due May 29, 2024 linked to the worst performing of the Energy Select Sector SPDR Fund and the SPDR S&P Biotech 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 8% if each ETF closes at or above the coupon barrier level, 75% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each ETF closes at or above its initial level, on any quarterly valuation date after six months.
If the notes have not been called and each ETF finishes at or above its 85% final buffer, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% decline of the worst performer below 15%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying funds: | SPDR S&P Biotech ETF, Energy Select Sector SPDR Fund
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| Amount: | $1,264,000
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| Maturity: | May 29, 2024
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| Coupon: | 8% annualized rate, payable monthly if each ETF closes at or above coupon barrier level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes at or above final buffer, par plus final coupon; otherwise, investors will lose 1% for every 1% decline of the worst performer below 15%
|
| Call: | Automatically at par plus coupon if each ETF closes at or above initial level on any quarterly valuation date after six months
|
| Initial levels: | $47.61 for Energy, $127.74 for Biotech
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| Coupon barrier levels: | $35.708 for Energy, $95.805 for Biotech; 75% of initial levels
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| Final buffer levels: | $40.469 for Energy, $108.579 for Biotech; 85% of initial levels
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| Pricing date: | Aug. 23
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| Settlement date: | Aug. 26
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.75%
|
| Cusip: | 17329QC99
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