By Sarah Lizee
Olympia, Wash., Feb. 21 – Citigroup Global Markets Holdings Inc. priced $1.75 million of autocallable contingent coupon equity-linked securities due Feb. 24, 2023 linked to the worst performing of the Russell 2000 index, the SPDR S&P Oil & Gas Exploration & Production ETF and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at an annual rate of 7.6% if all underlyings close at or above their coupon barriers, 60% of their initial levels, on the valuation date for that quarter.
Beginning in February 2020 and ending in November 2022, the notes will automatically be called at par plus the coupon if all underlyings close at or above their initial levels on any quarterly observation date.
If the notes are not called and all three underlyings finish at or above their 60% barrier levels, investors will receive par plus the final coupon.
Otherwise, investors will be exposed to the losses of the worst performing underlying.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying assets: | Russell 2000 index, SPDR S&P Oil & Gas Exploration & Production ETF and iShares MSCI EAFE ETF
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| Amount: | $1.75 million
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| Maturity: | Feb. 24, 2023
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| Coupon: | 7.6% per year, payable quarterly if each underlying close at or above its coupon barrier on the valuation date for that quarter
|
| Price: | Par
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| Payout at maturity: | If all underlyings finish above their barrier levels, par plus coupon; otherwise, full exposure to the losses of the worst performing underlying
|
| Call: | At par plus the coupon if all underlyings close above their initial levels on a quarterly observation date beginning in February 2020 and ending in November 2022
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| Initial levels: | 1,574.468 for Russel, $30.87 for oil ETF and $63.86 for EAFE ETF
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| Coupon/barrier levels: | 944.681 for Russel, $18.522 for oil ETF and $38.316 for EAFE ETF, 60% of initial levels
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| Pricing date: | Feb. 19
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| Settlement date: | Feb. 22
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.75%
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| Cusip: | 17326Y3G9
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