Chicago, Aug. 21 – Citigroup Global Markets Holdings Inc. priced $630,000 of autocallable contingent coupon notes due Aug. 2, 2021 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes will pay a contingent coupon at a rate of 8.1% per year if the shares close at or above the coupon barrier, 85% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par plus the coupon if the shares close at or above the initial share price on any quarterly valuation date after six months.
If the notes are not called and the final share price is greater than or equal to the final barrier value, 85% of the initial share price, the payout at maturity will be par plus the coupon.
Otherwise, investors will be exposed to losses beyond the 15% buffer.
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 notes
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| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $630,000
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| Maturity: | Aug. 2, 2021
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| Contingent coupon: | 8.1%, payable quarterly if ETF closes at or above coupon barrier level on related quarterly valuation date
|
| Price: | Par
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| Payout at maturity: | Par plus coupon unless ETF finishes below final barrier value, in which case exposure to losses beyond 15% buffer
|
| Call: | Automatically at par plus the coupon on any quarterly valuation date after six months
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| Initial price: | $23.76
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| Coupon barrier: | $20.196, 85% of initial price
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| Downside threshold: | $20.196, 85% of initial price
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| Pricing date: | July 29
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| Settlement date: | July 31
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| Agents: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17324XQU7
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