By Wendy Van Sickle
Columbus, Ohio, Jan. 13 – Citigroup Global Markets Holdings Inc. priced $2.42 million of autocallable contingent coupon equity-linked securities due July 14, 2027 linked to the least performing of the Euro Stoxx Banks index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 9% per year if the least-performing underlier closes at or above its coupon barrier value, 65% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if the least-performing underlier closes at or above its initial level on any quarterly call date after one year.
The payout at maturity will be par unless the least-performing underlier finishes below its buffer level, 80% of its initial level, in which case investors will lose 1% for every 1% that the least-performing underlier declines beyond 20%.
The notes are guaranteed by Citigroup Inc.
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: | Euro Stoxx Banks index and the SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $2,418,000
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| Maturity: | July 14, 2027
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| Coupon: | 9% per year, payable monthly if least-performing underlier closes at or above coupon barrier value on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless least-performing underlier finishes below buffer level, in which case 1% loss for every 1% that least-performing underlier declines from initial level
|
| Call: | Automatically at par plus coupon if least-performing underlier closes at or above initial level on any quarterly call date after one year
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| Initial levels: | 98.58 for index, $23.44 for oil & gas fund
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| Coupon barriers: | 64.077 for index, $15.236 for oil & gas fund, or 65% of initial levels
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| Buffer levels: | 78.864 for index, $18.752 for oil & gas fund, or 80% of initial levels
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| Pricing date: | Jan. 9
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| Settlement date: | Jan. 14
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.75%
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| Cusip: | 17327TW77
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