By Marisa Wong
Morgantown, W.Va., March 24 – Citigroup Global Markets Holdings Inc. priced $4.6 million of 0% step-down trigger autocallable notes due March 20, 2020 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called at par plus a call return of 8.65% a year if the fund closes at or above its initial level on any of the first two annual observation dates or at or above its 65% downside threshold level on the final valuation date.
If the notes have not been called, the payout at maturity will be par plus the fund return with full exposure to losses.
UBS Financial Services Inc. and Citigroup Global Markets Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Step-down trigger autocallable notes
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $4,598,000
|
| Maturity: | March 20, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus 8.65% annualized if fund closes at or above its initial level on any of the first two annual observation dates or at or above its 65% downside threshold level on the final valuation date
|
| Payout at maturity: | If notes are not called, full exposure to fund decline
|
| Initial price: | $36.44
|
| Downside threshold: | $23.686; 65% of initial price
|
| Pricing date: | March 17
|
| Settlement date: | March 22
|
| Underwriters: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
|
| Fees: | 2.5%
|
| Cusip: | 17325E739
|
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