By Wendy Van Sickle
Columbus, Ohio, July 21 – Citigroup Global Markets Holdings Inc. priced $510,000 of autocallable contingent coupon equity-linked securities due Dec. 1, 2022 linked to the worst 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.
The notes will pay a contingent quarterly coupon at an annual rate of 8.1% if each underlying fund closes at or above the coupon barrier level, 70% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each underlying fund closes at or above its initial level on any quarterly valuation date after six months.
If the notes have not been called, the payout at maturity will be par unless any fund finishes below its 70% barrier level, in which case investors will be exposed to the loss of the laggard 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 funds: | Energy Select Sector SPDR fund, Financial Select Sector SPDR fund
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| Amount: | $510,000
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| Maturity: | Dec. 1, 2022
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| Coupon: | 8.1% annualized rate, payable quarterly if each underlying closes at or above coupon barrier level, on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any fund finishes below barrier level, in which case exposure to loss of laggard ETF
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| Call: | Automatically at par plus coupon if each underlying closes at or above initial level on any quarterly valuation date after six months
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| Initial levels: | $37.92 for Financial, $52.11 for Energy Select Sector
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| Coupon barrier levels: | $26.544 for Financial, $36.477 for Energy Select Sector; 70% of initial levels
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| Barrier levels: | $26.544 for Financial, $36.477 for Energy Select Sector; 70% of initial levels
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| Pricing date: | May 27
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| Settlement date: | June 2
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17329FS88
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