By William Gullotti
Buffalo, N.Y., July 7 – Citigroup Global Markets Holdings Inc. priced $2.69 million of autocallable contingent coupon equity-linked securities due July 1, 2027 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 7.15% if the index closes at or above the coupon barrier level, 70% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the index closes at or above the initial level on any quarterly valuation date after one year.
If the notes are not called and the index finishes at or above the 70% final barrier, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the 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 contingent coupon equity-linked securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $2,693,000
|
| Maturity: | July 1, 2027
|
| Coupon: | 7.15% annually, payable quarterly if index closes at or above coupon barrier on the corresponding valuation date
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and the index finishes at or above the final barrier, par plus final coupon; otherwise, full exposure to decline in the index from initial level
|
| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on any quarterly valuation date after one year
|
| Initial level: | 3,821.55
|
| Coupon barrier: | 2,675.085; 70% of initial level
|
| Final barrier: | 2,675.085; 70% of initial level
|
| Pricing date: | June 28
|
| Settlement date: | June 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.5%
|
| Cusip: | 17330PMY2
|
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