By Wendy Van Sickle
Columbus, Ohio, April 28 – Citigroup Global Markets Holdings Inc. priced $1.48 million phoenix autocallable securities due May 10, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the index closes at or above the coupon barrier level, 70% of the initial level, on a quarterly observation date, the notes will pay a contingent coupon for that quarter at an annualized rate of 14.3%, plus any previously unpaid contingent coupons.
The notes will be called at par plus any previously unpaid contingent coupons if the index closes at or above the initial share price on any quarterly observation date.
The payout at maturity will be par plus the final coupon and any previously unpaid coupons unless the index finishes below the 70% final barrier level, in which case investors will be fully exposed to the index decline.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Phoenix autocallable securities
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Underlying index: | S&P 500 index
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Amount: | $1,475,000
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Maturity: | May 10, 2021
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Coupon: | 14.3% annualized, plus any previously unpaid coupons, if index closes at or above barrier level on quarterly observation date
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Price: | Par
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Payout at maturity: | Par plus contingent coupon and previously unpaid coupons if index finishes at or above final barrier level; otherwise, exposure to index decline
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Call: | At par plus final contingent coupon and any previously unpaid coupons if index closes at or above initial level on a quarterly observation date
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Initial level: | 2,799.31
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Barrier/final level | 1,959.517, 70% of initial level
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Strike date: | April 22
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Pricing date: | April 24
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Settlement date: | April 28
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17328VWM8
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