By Kiku Steinfeld
Chicago, Oct. 4 – Citigroup Global Markets Holdings Inc. priced $2 million of autocallable contingent coupon equity-linked securities due Sept. 17 2024 linked to the SPDR S&P oil & gas exploration & production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes will pay a contingent coupon at the rate of 11% per year if the fund closes at or above its coupon barrier, 50% of its initial price, on the valuation date for that quarter.
After six months, the notes will be automatically called at par plus the coupon if the fund closes at or above the initial price on any quarterly valuation date other than the final one.
The payout at maturity will be par if the notes are not called.
If the fund closes below its final barrier, 50% of its initial price, in which case investors will be fully exposed to the decline of the fund from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying ETF: | SPDR S&P oil & gas exploration & production ETF
|
| Amount: | $2,000,000
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| Maturity: | Sept. 17, 2024
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| Coupon: | 11% per year, payable quarterly if fund closes at or above coupon barrier on quarterly valuation date
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless fund finishes below final barrier, in which case full exposure to decline of fund from initial level
|
| Call: | After one year, automatically at par plus coupon if fund closes at or above initial level on any quarterly valuation date other than the final one
|
| Initial price: | $23.25
|
| Coupon barrier: | $11.625, 50% of initial price
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| Final barrier: | $11.625, 50% of initial price
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| Pricing date: | Sept. 12
|
| Settlement date: | Sept. 17
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17327TVR4
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