By William Gullotti
Buffalo, N.Y., Aug. 8 – Citigroup Global Markets Holdings Inc. priced $1.44 million of 0% market-linked autocallable securities with contingent downside due July 29, 2026 linked 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.
The notes will pay a contingent quarterly interest payment at the rate of 7% per year if the index 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 the index 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 unless the index falls by more than 30%, in which case investors lose 1% for every 1% 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: | S&P 500 index
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| Amount: | $1,439,000
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| Maturity: | July 29, 2026
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| Coupon: | 7% annual rate, payable quarterly if the index closes at or above coupon barrier level on the relevant observation date
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| Level: | Par
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| Payout at maturity: | Par plus final coupon unless the index falls by more than 30%, in which case 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: | 4,130.29
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| Coupon barrier: | 2,891.203; 70% of initial level
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| Threshold level: | 2,891.203; 70% of initial level
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| Pricing date: | July 29
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| Settlement date: | Aug. 3
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| Agents: | Citigroup Global Markets Inc. and Wells Fargo Advisors
|
| Fees: | 2.175%
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| Cusip: | 17330PM48
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