By Taylor Fox
New York, Nov. 16 – Citigroup Global Markets Holdings Inc. priced $808,000 of autocallable contingent coupon equity-linked securities due Oct. 26, 2023 linked to the least performing of the Energy Select Sector SPDR fund and the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each month, the notes pay a contingent coupon at the rate of 9.2% per year if each fund closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that month.
The notes will be automatically called at par if each fund closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par unless any fund finishes below its barrier level, 60% of its initial level, in which case investors will lose 1% for every 1% decline of the least performing fund.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying funds: | Energy Select Sector SPDR Fund and the Financial Select Sector SPDR Fund
|
| Amount: | $808,000
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| Maturity: | Oct. 26, 2023
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| Coupon: | Each month, notes pay contingent coupon at rate of 9.2% per year unless any fund closes below coupon barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any fund finishes below its barrier level, in which case 1% loss for every 1% decline of the least performing fund
|
| Call: | Automatically at par if each fund closes at or above initial level on any quarterly call observation date after six months
|
| Initial levels: | $29.33 for Energy Select and $24.68 for Financial Select
|
| Coupon barrier levels: | $17.598 for Energy Select and $14.808 for Financial Select; 60% of initial levels
|
| Final barrier levels: | $17.598 for Energy Select and $14.808 for Financial Select; 60% of initial levels
|
| Pricing date: | Oct. 21
|
| Settlement date: | Oct. 26
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17328WYM4
|
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