By Sarah Lizee
Olympia, Wash., Aug. 26 – Citigroup Global Markets Holdings Inc. priced $3.42 million of autocallable contingent coupon equity-linked securities due March 1, 2022 linked to the lesser performing of the Financial Select Sector SPDR Fund and the SPDR S&P Regional Banking 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 lesser-performing ETF closes at or above its coupon barrier value, 63% of its initial share price, on the observation date for that quarter.
The notes will be automatically called at par if the lesser-performing ETF closes at or above its initial share price on any quarterly call observation date.
The payout at maturity will be par unless any ETF finishes below its 63% final barrier value, in which case investors will be fully exposed to the loss of the worst-performing ETF.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying ETFs: | Financial Select Sector SPDR Fund and SPDR S&P Regional Banking ETF
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| Amount: | $3,423,000
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| Maturity: | March 1, 2022
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| Coupon: | 10% per year, payable quarterly if lesser-performing ETF closes at or above coupon barrier value on valuation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless lesser-performing ETF finishes below final barrier level, in which case full exposure to lesser-performing ETF’s loss
|
| Call: | Automatically at par if lesser-performing ETF closes at or above initial share price on any quarterly call observation date
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| Initial share prices: | $24.89 for financial fund, $39.38 for banking fund
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| Coupon barriers: | $15.681 for financial fund, $24.809 for banking fund, 63% of initial levels
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| Final barrier levels: | $15.681 for financial fund, $24.809 for banking fund, 63% of initial levels
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| Pricing date: | Aug. 24
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| Settlement date: | Aug. 27
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17324XS76
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