By Sarah Lizee
Olympia, Wash., Aug. 7 – Citigroup Global Markets Holdings Inc. priced $552,000 of autocalable contingent coupon equity-linked notes due Feb. 2, 2028 linked to the least performing of the Energy Select Sector SPDR fund and SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 12% if each ETF closes at or above its 80% coupon barrier on the observation date for that month.
The notes will be called at par if each ETF closes at or above its initial level on any quarterly autocall date after one year.
The payout at maturity will be par unless either ETF closes below its 80% knock-in level, in which case investors will be exposed to any decline of the lesser performing ETF beyond 20%.
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: | Autocallable contingent coupon equity-linked notes
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| Underlying ETFs: | Energy Select Sector SPDR fund and SPDR S&P Biotech ETF
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| Amount: | $552,000
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| Maturity: | Feb. 2, 2028
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| Coupon: | 12% annualized, payable monthly if each ETF closes at or above coupon barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par unless either ETF closes below its 80% knock-in level, in which case investors will be exposed to any decline of the lesser performing ETF beyond 20%
|
| Call: | At par if each ETF closes at or above its initial level on any quarterly autocall date after one year
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| Initial prices: | $36.91 for energy ETF, $112.20 for biotech ETF
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| Coupon barrier levels: | $29.528 for energy ETF, $89.76 for biotech ETF; 80% of initial prices
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| Knock-in levels: | $29.528 for energy ETF, $89.76 for biotech ETF; 80% of initial prices
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| Pricing date: | July 28
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| Settlement date: | July 31
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4%
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| Cusip: | 17328W2A5
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