By Kiku Steinfeld
Chicago, Sept. 16 – Citigroup Global Markets Holdings Inc. priced $1.25 million of 9.2% autocallable equity-linked securities due Sept. 15, 2021 tied to the worst performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable quarterly.
The notes will be called at par plus the coupon if each index closes at or above its call threshold level on any of three quarterly observation dates. For each index, the call threshold level will be 100% of that index’s initial level on the first observation date, stepping down to 95% on the second observation date and to 90% on the third observation date.
If both indexes finish at or above 80% of their initial levels, the payout will be par.
Otherwise, investors will lose 1.25% for every 1% decline of the lesser-performing index beyond 20%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable equity-linked securities
|
| Underlying indexes: | S&P 500, Nasdaq-100
|
| Amount: | $1.25 million
|
| Maturity: | Sept. 15, 2021
|
| Coupon: | 9.2%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If both indexes finish at or above 80% of their initial levels, par; otherwise, investors will lose 1.25% for every 1% decline of the lesser-performing index beyond 20%
|
| Call: | At par plus coupon if each index closes at or above its call threshold on any quarterly observation date; call threshold level will be 100% of initial level on Dec. 8, 2020, 95% of initial level on March 8, 2021 and 90% of initial level on June 8, 2021
|
| Initial index levels: | 3,426.96 for S&P and 11,622.13 for Nasdaq
|
| Buffer levels: | 2,741.568 for S&P and 9,297.704 for Nasdaq; 80% of initial levels
|
| Pricing date: | Sept. 8
|
| Settlement date: | Sept. 11
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17328WJX7
|
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