By William Gullotti
Buffalo, N.Y., March 24 – Citigroup Global Markets Holdings Inc. priced $1.61 million of 0% autocallable barrier securities due March 23, 2027 linked to the lesser performing of the SPDR S&P 500 ETF Trust and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called at par plus an annualized call premium of 8.85% if each underlier closes at or above its initial level on any quarterly observation date after one year.
If the final level of each underlier is greater than or equal to its initial level, the payout at maturity will be par plus the gain of the least performing underlier.
If the worst performer declines but finishes at or above its final barrier level, 85% of initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer 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 barrier securities
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| Underlying assets: | SPDR S&P 500 ETF Trust, Nasdaq-100 index
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| Amount: | $1,607,000
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| Maturity: | March 23, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each underlier finishes at or above its initial level, par plus the gain of the least performing underlier; if the worst performer declines but finishes at or above final barrier, par; otherwise, full exposure to decline of worst performer from its initial level
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| Call: | At par plus 8.85% annualized call premium if each underlier closes at or above initial level on any quarterly observation date after one year
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| Initial levels: | $444.52 for ETF, 14,420.08 for Nasdaq
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| Final barrier levels: | $377.842 for ETF, 12,257.068 for Nasdaq; 85% of initial levels
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4.1%
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| Cusip: | 17330AJN3
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