By Kiku Steinfeld
Chicago, May 13 – Citigroup Global Markets Holdings Inc. priced $2.09 million of 9.7% equity-linked securities due Oct. 27, 2021 tied to the VanEck Vectors Gold Miners ETF and the VanEck Vectors Junior Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Interest is payable monthly.
The payout at maturity will be par if both ETFs finish above the downside threshold, 80% of the initial price. Otherwise, investors will be fully exposed to the losses of the worst performing ETF, payable in either shares or cash.
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: | equity-linked securities
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| Underlying ETFs: | VanEck Vectors Gold Miners ETF and the VanEck Vectors Junior Gold Miners ETF
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| Amount: | $2.09 million
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| Maturity: | Oct. 27, 2021
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| Coupon: | 9.7%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par if final prices of both ETFs are at least 80% of initial prices; otherwise, full exposure to losses of worst performer, payable in either shares or cash
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| Initial prices: | $36.18 for Gold Miners and $49.95 for Junior Gold Miners
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| Downside thresholds: | $28.944 for Gold Miners and $39.960 for Junior Gold Miners, 80% of initial price
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| Equity ratios: | 27.63958 for Gold Miners and 20.02002 for Junior Gold Miners
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| Pricing date: | April 22
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| Settlement date: | April 27
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17328NQC5
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