By Kiku Steinfeld
Chicago, March 2 – Citigroup Global Markets Holdings Inc. priced $74,000 of autocallable contingent coupon equity-linked securities due Feb. 28, 2023 linked to the least performing of the S&P 500 index 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 monthly coupon at an annual rate of 8% if each asset closes at or above its 75% coupon barrier on the observation date for that month.
The notes will be called at par if each asset closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless any asset closes below its 85% final buffer level, in which case investors will be fully exposed to any decline of the worst performing asset beyond 15%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying assets: | S&P 500 index and VanEck Vectors Gold Miners ETF
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| Amount: | $74,000
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| Maturity: | Feb. 28, 2023
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| Coupon: | 8% annualized, payable monthly if each asset closes at or above coupon barrier on valuation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below final buffer level, in which case investors will be fully exposed to any decline of worst performing asset beyond final buffer
|
| Call: | At par if each asset closes at or above its initial level on any quarterly observation date after six months
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| Initial levels: | 3,881.37 for index and $33.44 for fund
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| Coupon barrier levels: | 2,911.028 for index and $25.080 for fund, 75% of initial levels
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| Final buffer levels: | 3,299.165 for index and $28.424 for fund, 85% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 26
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.95%
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| Cusip: | 17328YJA3
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