By Wendy Van Sickle
Columbus, Ohio, Jan. 13 – Citigroup Global Markets Holdings Inc. priced $1.53 million of autocallable contingent coupon equity-linked securities due Oct. 14, 2020 linked to the least performing of the SPDR S&P Biotech ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 11.5% per year if the least-performing underlier closes at or above its coupon barrier value, 70% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if the least-performing underlier closes at or above its initial level on April 8 or July 8, 2020.
The payout at maturity will be par unless the least-performing underlier finishes below its initial level and either underlie has ever closed below its knock-in value, 60% of its initial level, during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing underlier declines from its initial level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underliers: | SPDR S&P Biotech ETF and the SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $1,525,000
|
| Maturity: | Oct. 14, 2020
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| Coupon: | 11.5% per year, payable monthly if least-performing underlier closes at or above coupon barrier value on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless least-performing underlier finishes below initial level and least performing underlie ever closes below knock-in value, in which case 1% loss for every 1% that least-performing underlier declines from initial level
|
| Call: | Automatically at par plus coupon if least-performing underlier closes at or above initial level on April 8 or July 8, 2020
|
| Initial levels: | $95.61 for biotech fund, $23.55 for oil & gas fund
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| Coupon barriers: | $66.927 for biotech fund, $16.485 for oil & gas fund, or 70% of initial levels
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| knock-in values: | $57.366 for biotech fund, $14.13 for oil & gas fund, or 60% of initial levels
|
| Pricing date: | Jan. 8
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| Settlement date: | Jan. 13
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.55%
|
| Cusip: | 17327T6E1
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