By Taylor Fox
New York, March 30 – Citigroup Global Markets Holdings Inc. priced $1.98 million of autocallable contingent coupon equity-linked securities due March 21, 2024 linked to the VanEck Vectors Junior Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 9.25% if the ETF closes at or above the coupon barrier price, 65% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if the ETF closes at or above 90% its initial price on any quarterly call valuation date after six months.
If the notes are not called and the ETF finishes at or above final barrier price, 65% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for each 1% decline of the fund.
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 securities
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| Underlying ETF: | VanEck Vectors Junior Gold Miners ETF
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| Amount: | $1,977,000
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| Maturity: | March 21, 2024
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| Coupon: | 9.25% annualized rate, payable quarterly if ETF closes at or above coupon barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if ETF closes at or above final barrier price; otherwise, 1% loss for each 1% decline from initial level
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| Call: | Automatically at par plus coupon if ETF closes at or above 90% initial level on any quarterly call valuation date after six months
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| Initial level: | $47.78
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| Coupon barrier price: | $31.057, 65% of initial levels
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| Barrier price: | $31.057, 65% of initial levels
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| Autocall barrier: | $43.002, 90% of initial levels
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17329F3V4
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