By William Gullotti
Buffalo, N.Y., July 1 – Citigroup Global Markets Holdings Inc. priced $625,000 of 0% autocallable securities due June 26, 2023 tied to the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If the ETF closes at or above of its initial level on any quarterly valuation date after six months, the notes will be called at par plus an annual premium of 7.5%.
If the ETF finishes at or above its initial level, the payout at maturity will be par plus 15%.
If the ETF declines but finishes at or above the 70% final barrier, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the ETF from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying ETF: | Energy Select Sector SPDR Fund
|
| Amount: | $625,000
|
| Maturity: | June 26, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the ETF finishes at or above its initial level, par plus 15%; if the ETF declines but finishes at or above the 70% final barrier, par; otherwise, investors will lose 1% for each 1% decline from initial level
|
| Call: | If the ETF closes at or above its initial level on any quarterly valuation date after six months, at par plus an annual premium of 7.5%
|
| Initial level: | $54.07
|
| Final barrier: | $37.849; 70% of initial level
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| Pricing date: | June 21
|
| Settlement date: | June 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.65%
|
| Cusip: | 17329FW42
|
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