By Kiku Steinfeld
Chicago, Dec. 17 – Citigroup Global Markets Holdings Inc. priced $1.5 million of autocallable contingent coupon equity-linked securities due Dec. 8, 2022 linked to 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.
Every six months, the notes will pay a contingent coupon at a rate of 15.3% per year if the shares close at or above the coupon barrier, 80% of the initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if the shares close at or above the initial share price on any semiannual valuation date beginning in December 2020 and ending in June 2022.
If the notes are not called and the final share price is greater than or equal to the final barrier value, 60% of the initial share price, the payout at maturity will be par plus any coupon due.
Otherwise, investors will be exposed to any losses of the ETF.
Citigroup Global Markets Inc. is the underwriter.
| 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 ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1,500,000
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| Maturity: | Dec. 8, 2022
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| Contingent coupon: | 15.3%, payable semiannual if ETF closes at or above coupon barrier level on related semiannual valuation date
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| Price: | Par
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| Payout at maturity: | Par plus any coupon unless ETF finishes below final barrier, in which case exposure to losses
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| Call: | Automatically at par plus any coupon on any semiannual valuation date beginning in December 2020 and ending in June 2022.
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| Initial price: | $20.04
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| Coupon barrier: | $16.032, 80% of initial price
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| Final barrier: | $12.024, 60% of initial price
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| Pricing date: | Dec. 3
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| Settlement date: | Dec.6
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| Agents: | Citigroup Global Markets Inc.
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| Fees: | None
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| Cusip: | 17327TCE4
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