By Kiku Steinfeld
Chicago, June 21 – Citigroup Global Markets Holdings Inc. priced $2.11 million of callable contingent coupon equity-linked securities due May 29, 2025 linked to the lesser performing of the iShares Silver Trust and the VanEck Vectors Gold Miners ETF, 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 annual rate of 12.3% if each fund closes at or above its coupon barrier, 75% of its initial level, on the observation date for that period.
The notes will be callable at par plus any coupon due on any quarterly potential redemption date starting after six months.
The payout at maturity will be par plus the final coupon unless either fund finishes below its 75% barrier, in which case investors will lose 1% for each 1% decline of the worst performing fund from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying funds: | iShares Silver Trust and the VanEck Vectors Gold Miners ETF
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| Amount: | $2.11 million
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| Maturity: | May 29, 2025
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| Coupon: | 12.3%, payable quarterly if each fund closes at or above coupon barrier on observation date
|
| Price: | Par
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| Call option: | At par plus any coupon due on any quarterly potential redemption date after six months
|
| Payout at maturity: | Par plus coupon if both funds finish above barrier levels; otherwise, 1% loss for each 1% decline of worse performing fund from initial level
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| Initial levels: | $25.53 for silver and $39.29 for gold
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| Coupon barriers: | $19.148 for silver and $29.468 for gold, 75% of initial levels
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| Barrier values: | $19.148 for silver and $29.468 for gold, 75% of initial levels
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| Pricing date: | May 21
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| Settlement date: | May 28
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
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| Cusip: | 17329FGB4
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