By Angela McDaniels
Tacoma, Wash., Oct. 4 – Citigroup Global Markets Holdings Inc. priced $291,000 of autocallable contingent coupon equity-linked securities due Sept. 30, 2024 linked to the lesser performing of the Energy Select Sector SPDR fund and the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 10% per year if the lesser-performing ETF closes at or above its barrier value, 60% of its initial share price, on the valuation date for that quarter.
From September 2020 to June 2024, the notes will be automatically called at par if the lesser-performing ETF closes at or above its initial share price on any quarterly valuation date.
The payout at maturity will be par unless the lesser-performing ETF finishes below its barrier value, in which case investors will lose 1% for every 1% that the lesser-performing ETF declines from its initial share price.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying ETFs: Energy Select Sector SPDR fund and VanEck Vectors Gold Miners ETF
|
| Amount: | $291,000
|
| Maturity: | Sept. 30, 2024
|
| Coupon: | 10% per year, payable quarterly if lesser-performing ETF closes at or above barrier value on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless lesser-performing ETF finishes below barrier value, in which case 1% loss for every 1% that lesser-performing ETF declines from initial share price
|
| Call: | Automatically at par if lesser-performing ETF closes at or above initial share price on any quarterly valuation date from September 2020 to June 2024
|
| Initial share prices: | $60.43 for energy fund and $28.43 for gold miners ETF
|
| Barrier values: | $36.258 for energy fund and $17.058for gold miners ETF, or 60% of initial share prices
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17327TFD3
|
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