By Wendy Van Sickle
Columbus, Ohio, June 5 – Citigroup Global Markets Holdings Inc. priced $1.93 million of autocallable contingent coupon equity-linked securities due May 31, 2024 linked to the least performing of the SPDR S&P Oil & Gas Exploration & Production ETF and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at the rate of 9% per year if each underlier closes at or above its coupon barrier value, 60% of its initial level, on the valuation date for that quarter.
The notes will be automatically called at par if each underlier closes at or above its initial level on any quarterly potential redemption date after one year.
The payout at maturity will be par unless the least-performing underlier finishes below its final barrier value, 60% of its initial level, in which case investors will lose 1% for every 1% that the least-performing underlier declines from its initial level.
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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| Underliers: | SPDR S&P Oil & Gas Exploration & Production ETF and VanEck Vectors Gold Miners ETF
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| Amount: | $1,925,000
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| Maturity: | May 31, 2024
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| Coupon: | 9% per year, payable quarterly if each underlier closes at or above coupon barrier value on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless least-performing underlier finishes below final barrier value, in which case 1% loss for every 1% that least-performing underlier declines from initial level
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| Call: | Automatically at par if each underlier closes at or above initial level on any quarterly potential redemption date after one year
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| Initial levels: | $26.71 for oil and gas ETF, $20.42 for Gold Miners
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| Coupon barrier values: | $16.026 for oil and gas ETF, $12.252 for Gold Miners, or 60% of initial levels
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| Final barrier values: | $16.026 for oil and gas ETF, $12.252 for Gold Miners, or 60% of initial levels
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| Pricing date: | May 28
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| Settlement date: | May 31
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17326YC46
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