By Wendy Van Sickle
Columbus, Ohio, Sept. 24 – Citigroup Global Markets Holdings Inc. priced $5.53 million of callable contingent coupon equity-linked securities due July 11, 2023 linked to the worst performing of the Russell 2000 Value ETF, the VanEck Vectors Oil Services ETF and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annualized rate of 14.25% if each asset closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly valuation date.
If the notes are not redeemed, the payout will be par unless any asset finishes below 70% of its initial level, in which case investors will be fully exposed to the loss of the least performing asset, payable in shares or, at the issuer’s option, cash.
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: | Callable contingent coupon equity-linked securities
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| Underlying assets: | Russell 2000 Value ETF, VanEck Vectors Oil Services ETF and Energy Select Sector SPDR fund
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| Amount: | $5.53 million
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| Maturity: | July 11, 2023
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| Contingent coupon: | 14.25% per year, payable quarterly if each asset closes at or above coupon barrier on the valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below 70% of its initial level, in which case investors will be fully exposed to the loss of the least performing asset
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| Call option: | In whole at par plus any coupon due on any quarterly valuation date
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| Initial levels: | $52.91 for Energy, $126.67 for Russell 2000 Value, $212.54 for Oil
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| Coupon barriers: | $37.037 for Energy, $113.869 for Russell 2000 Value, $148.778 for Oil; 70% of initial levels
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| Final barriers: | $37.037 for Energy, $113.869 for Russell 2000 Value, $148.778 for Oil; 70% of initial levels
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| Pricing date: | July 6
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| Settlement date: | July 9
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17329Q3J7
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