By Wendy Van Sickle
Columbus, Ohio, Sept. 21 – Citigroup Global Markets Holdings Inc. priced $825,000 of autocallable contingent coupon equity-linked securities due Sept. 20, 2023 linked to the least performing of the SPDR Gold Trust and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 10% per year plus any previously unpaid contingent coupons if the least-performing ETF closes at or above its coupon barrier value, 70% of its initial share price, on the valuation date for that quarter.
The notes will be automatically called at par if the least-performing ETF closes at or above its initial price on any quarterly valuation date.
The payout at maturity will be par unless the least-performing ETF finishes below its final barrier value, 70% of its initial share price, in which case investors will be fully exposed to the decline of the lesser-performing ETF.
The notes are guaranteed by Citigroup Inc.
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 ETFs: | SPDR Gold Trust and VanEck Vectors Gold Miners ETF
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| Amount: | $825,000
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| Maturity: | Sept. 20, 2023
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| Coupon: | 10% per year, payable quarterly plus any previously unpaid contingent coupons if least-performing ETF closes at or above coupon barrier value on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless least-performing ETF finishes below final barrier value, in which full exposure to decline of lesser-performing ETF
|
| Call: | Automatically at par if the least-performing ETF closes at or above its initial price on any quarterly valuation date
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| Initial share prices: | $183.45 for S&P Gold, $42.79 for VanEck
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| Coupon barriers: | $128.415 for S&P Gold, $29.953 for VanEck, or 70% of initial share prices
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| Barrier values: | $128.415 for S&P Gold, $29.953 for VanEck, or 70% of initial share prices
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| Pricing date: | Sept. 15
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| Settlement date: | Sept. 18
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17328WBJ6
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