By Wendy Van Sickle
Columbus, Ohio, July 25 – Citigroup Global Markets Holdings Inc. priced $1.3 million of 0% autocallable contingent barrier notes due Sept. 25, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If index closes at or above its lookback index level on Sept. 18, 2023, the notes will be called at par plus a premium of 11.5%. The lookback index level is the lowest closing level from July 19 to Sept. 21.
If index finishes at or above the lookback level, the payout at maturity will be par plus 150% of the index return.
If the index declines up to the 75% barrier (based on the lookback level), investors will receive par. Otherwise, investors will lose 1% for each 1% 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 barrier notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1.3 million
|
| Maturity: | Sept. 25, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above the lookback level, par plus 150% of the index return; if the index declines no farther than barrier level, par; otherwise, investors will lose 1% for each 1% decline from initial level
|
| Call: | If index closes at or above lookback level on Sept. 18, 2023, par plus an 11.5% call premium; lookback level is lowest closing level from July 19 to Sept. 21
|
| Initial level: | The lowest closing level on any trading day from July 19 to Sept. 21, start and end dates included
|
| Barrier level: | 75% of initial level
|
| Strike date: | July 19
|
| Pricing date: | July 20
|
| Settlement date: | July 25
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.58%
|
| Cusip: | 17330PQH5
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
