By Wendy Van Sickle
Columbus, Ohio, Dec. 6 – Citigroup Global Markets Holdings Inc. priced $151,000 of autocallable contingent coupon equity-linked securities due Nov. 29, 2024 linked to the least performing of the shares of VanEck Vectors Gold Miners ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 10% per year if the least-performing ETF closes at or above its coupon barrier value, 55% of its initial share price, on the valuation date for that quarter.
Starting in November 2020, the notes will be automatically called at par if the least-performing ETF closes at or above its initial share price on any quarterly valuation date.
The payout at maturity will be par unless the least-performing ETF finishes below its final barrier value, 55% of its initial share price, in which case investors will lose 1% for every 1% that the least-performing ETF 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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying ETFs: | VanEck Vectors Gold Miners ETF and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $151,000
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| Maturity: | Nov. 29, 2024
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| Coupon: | 10% per year, payable quarterly if least-performing ETF closes at or above coupon barrier value on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless least-performing ETF finishes below final barrier value, in which case 1% loss for every 1% that least-performing ETF declines from initial level
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| Call: | Automatically at par if least-performing ETF closes at or above initial share price on any quarterly valuation date from November 2020
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| Initial share prices: | $26.20 for gold ETF, $21.23 for oil ETF
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| Coupon barriers: | $14.41 for gold ETF, $11.677 for oil ETF, or 55% of initial share prices
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| Barrier values: | $14.41 for gold ETF, $11.677 for oil ETF, or 55% of initial share prices
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| Pricing date: | Nov. 25
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| Settlement date: | Nov. 29
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17322TSK3
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