By Sarah Lizee
Olympia, Wash., July 3 – Citigroup Global Markets Holdings Inc. priced $772,000 of autocallable contingent coupon equity-linked securities due June 28, 2024 linked to the worst 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.
The notes pay a quarterly contingent coupon at an annual rate of 9% if both ETFs close at or above their coupon barriers, 60% of their initial levels, on the valuation date for that quarter.
Beginning in June 2020 and ending in March 2024, the notes will automatically be called at par plus the coupon if both underlyings close at or above their initial levels on any quarterly observation date.
If the notes are not called and both ETFs finish at or above their 60% coupon values, investors will receive par plus the final coupon.
Otherwise, investors will be exposed to the losses of the worst performing underlying.
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: | SPDR S&P Oil & Gas Exploration & Production ETF and VanEck Vectors Gold Miners ETF
|
| Amount: | $772,000
|
| Maturity: | June 28, 2024
|
| Coupon: | 9% per year, payable quarterly if both ETFs close at or above their coupon barrier on the valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If both underlyings finish above their coupon barrier levels, par plus coupon; otherwise, full exposure to the losses of the worst performing underlying
|
| Call: | At par plus the coupon if both underlyings close above their initial levels on a quarterly observation date beginning June 2020 and ending in March 2024
|
| Initial levels: | $25.99 for oil, $25.63 for gold
|
| Coupon barriers: | $15.594 for oil, $15.378 for gold
|
| Pricing date: | June 25
|
| Settlement date: | June 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17326YAA4
|
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