By Marisa Wong
Morgantown, W.Va., July 10 – Citigroup Global Markets Holdings Inc. priced $7.17 million of 0% trigger autocallable notes due June 30, 2023 linked to the VanEck Vectors Oil Services exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called at par plus 10% per year if the ETF closes at or above its initial price on any quarterly observation date after one year.
The payout at maturity will be par unless the ETF finishes below the downside threshold, 53% of the initial price, in which case investors will lose 1% for each 1% decline of the ETF from its initial price.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Trigger autocallable notes
|
| Underlying ETF: | VanEck Vectors Oil Services ETF
|
| Amount: | $7,165,000
|
| Maturity: | June 30, 2023
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | After six months, at par plus 10% per year if ETF closes at or above initial price on any quarterly observation date
|
| Payout at maturity: | Par unless ETF finishes below downside threshold, in which case 1% loss for each 1% decline of ETF from initial price
|
| Initial price: | $26.44
|
| Downside threshold: | $14.01, 53% of initial price
|
| Pricing date: | June 27
|
| Settlement date: | June 29
|
| Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 17326K551
|
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