By Wendy Van Sickle
Columbus, Ohio, June 22 – Citigroup Global Markets Holdings Inc. priced $8.53 million phoenix autocallable securities due June 21, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the index closes at or above the coupon barrier level, 66% of the initial level, on a quarterly observation date, the notes will pay a contingent coupon for that quarter at an annualized rate of 8%.
The notes will be called at par plus any contingent coupon if the index closes at or above the initial share price on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless the index finishes below the 66% final barrier level, in which case investors will be fully exposed to the index decline.
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: | Phoenix autocallable securities
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| Underlying index: | S&P 500 index
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| Amount: | $8.53 million
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| Maturity: | June 21, 2024
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| Coupon: | 8% annualized, if index closes at or above barrier level on quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if index finishes at or above final barrier level; otherwise, exposure to index decline
|
| Call: | At par plus final contingent coupon if index closes at or above initial level on a quarterly observation date
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| Initial level: | 3,789.99
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| Barrier/final level | 2,501.393, 66% of initial level
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| Pricing date: | June 15
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| Settlement date: | June 21
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17330PKL2
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