By Susanna Moon
Chicago, Feb. 21 – Citigroup Global Markets Holdings Inc. priced $1.02 million of autocallable contingent coupon equity-linked securities due Feb. 7, 2023 tied to the lesser performing of the VanEck Vectors Gold Miners ETF and SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if each fund closes at or above its 60% threshold on the observation date for that quarter.
The notes will be called at par if each fund closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless either fund finishes below its 60% trigger level, in which case the payout will be par plus the return of the worse performing fund with full exposure to any losses.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying funds: | VanEck Vectors Gold Miners ETF and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1,024,000
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| Maturity: | Feb. 7, 2023
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| Coupon: | 10% annualized, payable quarterly if each fund closes at or above its 60% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either fund finishes below barrier, in which case full par plus return of worse performing fund
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| Call: | At par if each fund closes at or above its initial price on any quarterly call observation date beginning February 2019
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| Initial levels: | $22.91 for gold fund, $35.51 for oil fund
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| Trigger levels: | $13.746 for gold fund, $21.306 for oil fund; 60% of initial levels
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 7
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17324CRD0
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