By William Gullotti
Buffalo, N.Y., March 16 – Citigroup Global Markets Holdings Inc. priced $2.84 million of 0% autocallable securities due March 14, 2025 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If index closes at or above of its initial level on any annual valuation date, the notes will be called at par plus a premium of 11% per year.
If index finishes at or above its initial level, the payout at maturity will be par plus 33%.
If the index declines up to 40%, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $2,837,000
|
| Maturity: | March 14, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above its initial level, par plus 33%; if index declines up to 40%, par; otherwise, investors will lose 1% for each 1% decline from initial level
|
| Call: | If index closes at or above its initial level on any annual valuation date, at par plus a premium of 11% per year
|
| Initial level: | 4,204.31
|
| Final barrier: | 2,522.586; 60% of initial level
|
| Pricing date: | March 11
|
| Settlement date: | March 16
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.1%
|
| Cusip: | 17330ATZ5
|
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