By Susanna Moon
Chicago, Jan. 30 – Citigroup Global Markets Holdings Inc. priced $165,000 of callable contingent coupon equity-linked securities due Jan. 14, 2022 linked to the lesser performing of the Materials Select Sector SPDR Fund and the Industrial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 8.5% if each underlying asset closes at or above its 70% coupon barrier on the valuation date for that period.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless either asset closes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worse performing fund.
The notes are guaranteed by Citigroup Global Markets Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying assets: | Materials Select Sector SPDR Fund and Industrial Select Sector SPDR Fund
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| Amount: | $165,000
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| Maturity: | Jan. 14, 2022
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| Coupon: | 8.5% annualized, payable semiannually if each asset closes at or above 70% coupon barrier on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If each asset closes above barrier, par; otherwise, 1% loss for each 1% decline of worse performing fund
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| Call option: | At par on any interest payment date beginning in July 2019
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| Initial levels: | $53.51 for materials fund and $70.19 for industrial fund
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| Trigger levels: | $37.457 for materials fund and $49.133 for industrial fund, 70% of initial levels
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| Pricing date: | Jan. 18
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| Settlement date: | Jan. 25
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17326YET9
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