By William Gullotti
Buffalo, N.Y., Aug. 23 – Citigroup Global Markets Holdings Inc. priced $425,000 of autocallable contingent coupon equity-linked securities due Aug. 1, 2025 linked to the ETF performance of Energy Select Sector SPDR Fund, 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 15.75% if the ETF closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the ETF closes at or above the initial share price on any quarterly valuation date after six months.
If the notes are not called and the final share price is greater than or equal to the 70% final barrier price, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the ETF from its initial share price.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying fund: | Energy Select Sector SPDR Fund
|
| Amount: | $425,000
|
| Maturity: | Aug. 1, 2025
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| Coupon: | 15.75% annually, payable quarterly, if ETF closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and final share price is greater than or equal to the final barrier price, par plus final coupon; otherwise, 1% loss for every 1% decline from initial share price
|
| Call: | Automatically at par plus contingent coupon if ETF closes at or above initial level on any quarterly valuation date after six months
|
| Initial share price: | $78.42
|
| Coupon barrier price: | $54.894; 70% of initial level
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| Final barrier price: | $54.894; 70% of initial level
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| Pricing date: | July 29
|
| Settlement date: | Aug. 3
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17330PH28
|
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