By Wendy Van Sickle
Columbus, Ohio, Feb. 24 – Citigroup Global Markets Holdings Inc. priced $5.6 million of autocallable contingent coupon equity-linked securities due Feb. 27, 2018 linked to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 9.5% if the ETF closes at or above the barrier price, 70% of the initial price, on the valuation date for that quarter.
The notes will be called at par of $1,000 plus the contingent coupon if ETF shares close at or above the initial share price on any valuation date from May 2017 to November 2017.
The payout at maturity will be par plus the contingent coupon unless the ETF finishes below the 70% barrier level, in which case investors receive a number of ETF shares equal to $1,000 divided by the initial share price or, at the company’s option, the cash equivalent.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying ETF: | VanEck Vectors Gold Miners
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| Amount: | $5,601,000
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| Maturity: | Feb. 27, 2018
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| Coupon: | 9.5% per year, payable quarterly ETF closes at or above barrier on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below barrier price, in which case investors receive 41.10152 ETF shares or the cash equivalent
|
| Call: | At par plus contingent coupon if closing share price is greater than or equal to initial share price on any valuation date from May 2017 to November 2017
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| Initial share price: | $24.33
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| Barrier price: | $17.031, 70% of initial share price
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| Pricing date: | Feb. 22
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| Settlement date: | Feb. 27
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.25%
|
| Cusip: | 17324XAX8
|
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