By Susanna Moon
Chicago, Jan. 31 – Citigroup Global Markets Holdings Inc. priced $1.11 million of autocallable contingent coupon equity-linked securities due Jan. 27, 2022 linked to the least performing of the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.05% if each underlying component closes at or above its 70% coupon barrier on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if each fund closes at or above its initial level on any valuation date after one year.
The payout at maturity will be par unless either fund finishes below its 70% barrier level, in which case investors will be fully exposed any losses of the worse performing fund.
The notes will be 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 assets: | Energy Select Sector SPDR fund and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1.11 million
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| Maturity: | Jan. 27, 2022
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| Coupon: | 7.05% annualized, payable quarterly if each fund closes at or above 70% coupon barrier on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless either fund finishes below barrier; otherwise, full exposure to any losses of worse performing fund
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| Call: | At par plus contingent coupon if each fund closes at or above initial level on any quarterly valuation date beginning January 2019
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| Initial levels: | $39.69 for oil fund, $78.03 for energy fund
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| Barrier levels: | $27.783 for oil fund, $54.621 for energy fund; 70% of initial levels
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 25
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.7%
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| Cusip: | 17324CR24
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