By William Gullotti
Buffalo, N.Y., April 7 – Citigroup Global Markets Holdings Inc. priced $3.5 million of 0% market-linked autocallable securities with contingent downside due March 27, 2025 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly interest payment at the rate of 4% per year if the index closes at or above the coupon barrier level, 65% of the initial share level, on the observation date for that period.
The notes will be automatically called at par plus coupon if the index closes at or above initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon if the index finishes at or above the coupon barrier.
If the index finishes below the coupon barrier but at or above the 60% threshold level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the index’s decline from its initial level.
Citigroup Global Markets Inc. and Wells Fargo Advisors are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked autocallable securities with contingent coupon and contingent downside
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| Underlying index: | Dow Jones industrial average
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| Amount: | $3.5 million
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| Maturity: | March 27, 2025
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| Coupon: | 4% annual rate, payable quarterly if the index closes at or above coupon barrier level on the relevant observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon if the index finishes at or above coupon barrier; if index finishes below coupon barrier but not below threshold level, par; otherwise, full exposure to decline from initial level
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| Call: | Automatically at par plus coupon if the index closes at or above initial level on any quarterly observation date after six months
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| Initial level: | 34,678.35
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| Coupon barrier: | 22,540.9275; 65% of initial level
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| Threshold level: | 20,807.01; 60% of initial level
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agents: | Citigroup Global Markets Inc. and Wells Fargo Advisors
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| Fees: | 1.5%
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| Cusip: | 17330ALU4
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