By Kiku Steinfeld
Chicago, Jan 12 – Citigroup Global Markets Holdings Inc. priced $1.04 million of callable contingent coupon equity-linked securities due Dec. 21, 2023 linked to the worst performing of the SPDR S&P Biotech ETF and 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 pay a contingent monthly coupon at an annualized rate of 10% if each fund closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par on any monthly valuation date after one year.
If the notes are not redeemed, the payout will be par unless either fund finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing fund.
Citigroup Global Markets Inc.is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying assets: | SPDR S&P Biotech ETF and the SPDR Oil & Gas Exploration & Production ETF
|
| Amount: | $1,041,000
|
| Maturity: | Dec. 21, 2023
|
| Contingent coupon: | 10% per year, payable monthly if each fund closes at or above coupon barrier on the valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par if funds finish at or above final barrier levels; otherwise, exposure to the decline of the least performing fund
|
| Call option: | At par any monthly valuation date after one year
|
| Initial levels: | $115.61 for Biotech, $93.61 for Oil & Gas
|
| Coupon barriers: | $80.927 for Biotech, $65.527 for Oil & Gas; 70% of initial levels
|
| Final barriers: | $69.366 for Biotech, $56.166 for Oil & Gas; 60% of initial levels
|
| Pricing date: | Dec. 17
|
| Settlement date: | Dec. 22
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.75%
|
| Cusip: | 17329UUF6
|
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