By Wendy Van Sickle
Columbus, Ohio, March 22 – Citigroup Global Markets Holdings Inc. priced $2.27 million of autocallable contingent coupon equity-linked securities due March 24, 2022 linked to the least performing of the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, the Russell 2000 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.85% if each underlying component closes at or above its 60% coupon barrier on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if each component closes at or above its initial level on any valuation date after one year.
The payout at maturity will be par unless any component finishes below its 60% barrier level, in which case investors will be fully exposed any losses of the worst performing index or fund.
The notes will be guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying assets: | Russell 2000 index, iShares MSCI EAFE ETF and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $2,268,000
|
| Maturity: | March 24, 2022
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| Coupon: | 7.85% annualized, payable quarterly if each index closes at or above 60% coupon barrier on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any component finishes below barrier; otherwise, full exposure to any losses of worst performing index or fund
|
| Call: | At par plus contingent coupon if each component closes at or above initial level on any quarterly valuation date beginning in March 2019
|
| Initial levels: | $34.07 for oil fund, 1,570.405 for Russell and $69.89 for EAFE fund
|
| Barrier levels: | $20.442 for fund, 942.243 for Russell and $41.493 for EAFE fund; 60% of initial levels
|
| Pricing date: | March 20
|
| Settlement date: | March 23
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.75%
|
| Cusip: | 17324CT55
|
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