By Kiku Steinfeld
Chicago, Sept. 17 – Citigroup Global Markets Holdings Inc. priced $2.29 million of 0% autocallable securities due Sept. 12, 2025 linked to the SPDR Dow Jones industrial average ETF trust, the iShares Russell 2000 ETF and the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
After one year, if each ETF closes at or above its premium threshold level on any quarterly valuation date, the notes will be called at par plus a premium of 8% annual rate.
The premium threshold will start at par and will reduce 2.5% each quarter thereafter.
If each ETF finishes at or above its final premium threshold level of 60%, the payout will be par plus the final premium value of 40%.
Otherwise, investors will lose 1% for each 1% decline of the worst performing ETF from its initial level.
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 securities
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| Underlying ETFs: | SPDR Dow Jones industrial average ETF trust, iShares Russell 2000 ETF and SPDR S&P 500 ETF trust
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| Amount: | $2,290,000
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| Maturity: | Sept. 12, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each ETF finishes at or above its 60% premium threshold level, par plus 40%; otherwise, 1% loss for each 1% decline of the worst performing ETF from its initial level
|
| Call: | Automatically at par plus an annualized premium of 8% if each ETF closes at or above its applicable premium threshold level on any quarterly valuation date after one year
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| Initial levels: | $152.13 for Russell, $279.85 for Dow, $339.79 for S&P
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| Premium threshold levels: | 100% of initial level after one year, reducing 2.5% each quarter thereafter
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| Trigger values: | $91.278 for Russell, $167.910 for Dow, $203.874 for S&P, or 60% of initial share prices
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| Pricing date: | Sept. 9
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| Settlement date: | Sept. 14
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.85%
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| Cusip: | 17328WBB3
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