By Wendy Van Sickle
Columbus, Ohio, April 9 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable contingent coupon equity-linked securities due March 30, 2023 linked to the SPDR S&P Oil & Gas Exploration and Production ETF and the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if each ETF closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes will be called at par if each ETF closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless either ETF finishes below its 60% barrier level, in which case the payout will be par plus the return of the worse performing ETF with full exposure to any losses.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| 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: | VanEck Vectors Gold Miners ETF and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $500,000
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| Maturity: | March 30, 2023
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| Coupon: | 10% annualized, payable quarterly if each ETF closes at or above its 60% coupon barrier on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either ETF finishes below final barrier, in which case full exposure to loss of worse performing ETF
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| Call: | At par if each ETF closes at or above its initial price on any quarterly call observation date after one year
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| Initial levels: | $24.44 for Gold Miners, $35.35 for oil and gas
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| Coupon barrier levels: | $13.464 for Gold Miners, $21.21 for oil and gas, 60% of initial level
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| Final barrier levels: | $13.464 for Gold Miners, $21.21 for oil and gas, 60% of initial level
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| Pricing date: | March 26
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| Settlement date: | March 29
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.5%
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| Cusip: | 17324CSM9
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