Chicago, Dec. 14 – Citigroup Global Markets Holdings Inc. priced $6.33 million of 0% jump securities with autocallable features due April 6, 2026 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be automatically redeemed early if the fund closes above its initial level on any quarterly valuation date after one year. The notes will be redeemed at par plus a premium, at an annual 10% rate.
If the fund return is zero or positive, the payout at maturity will be par of $10 plus the final redemption premium of 50%. Investors will receive par if the fund declines but finishes above 70% of its initial level. Investors will be fully exposed to any fund decline.
Citigroup Global Markets Inc. is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Jump securities with autocallable feature
|
| Underlying ETF: | Energy Select Sector SPDR fund
|
| Amount: | $6,333,500
|
| Maturity: | April 6, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 50% premium if fund finishes above initial level; par if fund declines but finishes above 70% of initial level; otherwise, full exposure to decline of fund
|
| Call: | Automatically at par plus 10% annual premium if fund finishes above initial level on any quarterly valuation date after one year
|
| Initial price: | $49.06
|
| Trigger level: | $34.342, 70% of initial level
|
| Pricing date: | March 31
|
| Settlement date: | April 6
|
| Underwriter: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as dealer
|
| Fees: | 3.5%
|
| Cusip: | 17329B723
|
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