By Kiku Steinfeld
Chicago, June 15 – Citigroup Global Markets Holdings Inc. priced $250,000 of autocallable contingent coupon equity-linked securities due May 24, 2023 linked to the worst performing of the Energy Select Sector SPDR fund and the VanEck Vectors Oil Services exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annual rate of 12% if each asset closes at or above the coupon barrier price, 85% of the initial price, on the valuation date for that period.
The notes will be called at par on any quarterly call valuation date after six months.
If the notes are not called, the payout at maturity will be par unless any asset finishes below 60% of its initial price, in which case investors will be fully exposed to the decline of the least-performing asset.
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 assets: | Energy Select Sector SPDR fund, VanEck Vectors Oil Services ETF
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| Amount: | $250,000
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| Maturity: | May 24, 2023
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| Coupon: | 12% annualized rate, payable monthly if each asset closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below knock-in level, in which investors will be fully exposed to the decline of the least-performing asset
|
| Call: | At par plus coupon if each asset closes at or above initial level on any quarterly call valuation date after six months
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| Initial share prices: | $52.13 for Energy, $212.20 for Oil Services
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| Coupon barrier levels: | $44.311 for Energy, $180.370 for Oil Services; 85% of initial levels
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| Knock-in levels: | $31.278 for Energy, $127.320 Oil Services; 60% of initial levels
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| Pricing date: | May 19
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| Settlement date: | May 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
|
| Cusip: | 17329FFJ8
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