By William Gullotti
Buffalo, N.Y., July 12 – Citigroup Global Markets Holdings Inc. sold $1.57 million of 0% market-linked autocallable securities with contingent coupon and contingent downside due June 27, 2025 linked to the SPDR S&P Regional Banking ETF and the S&P 500 index, 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 10.9% per year if each underlier closes at or above the coupon barrier level, 70% of the initial level, on the observation date for that period.
The notes will be automatically called at par plus coupon if each underlier closes at or above initial levels on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above its 70% threshold level.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC 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 assets: | SPDR S&P Regional Banking ETF, S&P 500 index
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| Amount: | $1.57 million
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| Maturity: | June 27, 2025
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| Coupon: | 10.9% annual rate, payable quarterly if all underliers close at or above their coupon barrier levels on the relevant observation date
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| Level: | Par
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| Payout at maturity: | Par plus final coupon if each underlier finishes at or above its threshold level; otherwise, full exposure to decline of worst performer from initial level
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| Call: | Automatically at par plus coupon if each underlier closes at or above initial levels on any quarterly observation date after six months
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| Initial levels: | $58.09 for ETF, 3,785.38 for S&P
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| Coupon barriers: | $40.663 for ETF, 2,649.766 for S&P; 70% of initial levels
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| Threshold levels: | $40.663 for ETF, 2,649.766 for S&P; 70% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
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| Fees: | 2.125%
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| Cusip: | 17330PBT5
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