By Wendy Van Sickle
Columbus, Ohio, Jan. 14 – Citigroup Global Markets Holdings Inc. priced $2.71 million of callable contingent coupon notes due Jan. 14, 2025 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 10% if the ETF closes at or above its coupon barrier level, 63% of the initial value, on the related observation date.
The notes will be callable at par plus any coupon due on any observation date after one year.
If the ETF finishes at or above its 60% barrier level, the payout at maturity will be par plus any contingent coupon due. Otherwise, investors will be fully exposed to the decline of the ETF.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $2,705,000
|
| Maturity: | Jan. 14, 2025
|
| Contingent coupon: | 10% per year, payable each quarter that underlying ETF closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If ETF finishes at or above barrier value, par plus any coupon due; otherwise, full exposure to decline of ETF
|
| Call option: | At par plus coupon on any observation date after one year
|
| Initial values: | $23.44
|
| Coupon barrier: | $14.767, 63% of initial level
|
| Barrier value: | $14.064, 60% of initial level
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 14
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.75%
|
| Cusip: | 17327TS31
|
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