By Wendy Van Sickle
Columbus, Ohio, June 8 – Citigroup Global Markets Holdings Inc. priced $500,000 of callable contingent coupon equity linked securities due June 10, 2021 linked to the worst performing of the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund and the iShares MSCI Emerging Markets exchange-traded 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 9.5% if each asset closes at or above its 70% coupon barrier on the observation date for that period.
The notes are callable at par on any contingent coupon payment date after two years.
The payout at maturity will be par plus the contingent coupon unless either asset finishes below its final barrier, 60% of its initial lelve, in which case investors will be fully exposed to the decline of the worse performing asset.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Holdings Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Callable contingent coupon equity linked securities
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| Underlying ETFs: SPDR S&P Oil & Gas Exploration & Production, iShares MSCI Emerging Markets
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| Amount: | $500,000
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| Maturity: | June 10, 2021
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| Coupon: | 9.5% per year, payable quarterly if each asset closes at or above 70% coupon barrier on determination date for that period
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| Price: | Par
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| Payout at maturity: | Par unless either asset finishes below final barrier, in which case full exposure to losses of worse performing asset
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| Call option: | At par on any interest payment date starting in June 2019
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| Initial levels: | $32.22 for Oil & Gas, $41.71 for Emerging Markets
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| Coupon barriers: | $22.554 for Oil & Gas, $29.197 for Emerging Markets; 70% of initial levels
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| Final barriers: | $19.332 for Oil & Gas, $25.026 for Emerging Markets, 60% of initial levels
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| Pricing date: | June 5
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| Settlement date: | June 8
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| Underwriter: | Citigroup Global Markets Holdings Inc.
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| Fees: | 1.25%
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| Cusip: | 17324CK70
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