By Wendy Van Sickle
Columbus, Ohio, Jan. 15 – Citigroup Global Markets Holdings Inc. priced $2.37 million of autocallable contingent coupon equity-linked securities due Jan. 18, 2022 linked to SPDR S&P 500 ETF Trust. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6% if the ETF closes at or above its 80% coupon barrier on the review date for that quarter.
The notes will be called at par if the ETF closes at or above its initial level on a quarterly call date.
The payout at maturity will be par unless the ETF finishes below its 80% barrier level, in which case investors will be fully exposed to the loss of the SPDR S&P 500 shares.
The notes are guaranteed by Citigroup Global Markets Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying ETF: | SPDR S&P 500 ETF Trust.
|
| Amount: | $2,366,000
|
| Maturity: | Jan. 18, 2022
|
| Coupon: | 6% annualized, payable quarterly if ETF closes at or above 80% coupon barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below 80% barrier, in which case full exposure to loss, paid in shares or cash at issuer’s option
|
| Call: | At par if ETF closes at or above its initial level on a quarterly call date
|
| Initial level: | $378.77
|
| Barrier level: | $303.016, 80% of initial level
|
| Pricing date: | Jan. 12
|
| Settlement date: | Jan. 15
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17328NEN4
|
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