By William Gullotti
Buffalo, N.Y., June 29 – Citigroup Global Markets Holdings Inc. priced $10 million of autocallable phoenix securities due June 29, 2022 linked to the common fund of Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annual rate of 7.2% if the fund closes at or above its 90% coupon barrier on the related monthly observation date, including any previously unpaid coupons.
The notes will be called at par plus the contingent coupon if the fund closes at or above its initial price on any monthly valuation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the fund finishes below the 90% buffer, in which case investors will lose 1.1111% for each 1% decline in the share price beyond 10%.
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: | Autocallable phoenix securities
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| Underlying fund: | Invesco QQQ Trust, Series 1
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| Amount: | $10 million
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| Maturity: | June 29, 2022
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| Coupon: | 7.2% annualized, payable monthly if the fund closes at or above coupon barrier on the relevant determination date; any previously unpaid coupons will also be paid
|
| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless the fund finishes below buffer, in which case 1.1111% loss for each 1% decline in share price beyond 10%
|
| Call: | At par plus contingent coupon if fund closes at or above initial price on any monthly valuation date
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| Initial share price: | $347.74
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| Coupon barrier: | $312.966; 90% of initial price
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| Buffer: | $312.966; 90% of initial price
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| Strike date: | June 23
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| Pricing date: | June 24
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| Settlement date: | June 29
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17329FXT6
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