By Wendy Van Sickle
Columbus, Ohio, March 24 – Citigroup Global Markets Holdings Inc. priced $6.16 million of 0% bearish autocallable securities due March 26, 2026 linked to 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 be called automatically at par plus an annualized call premium of 30.25% if the index closes at or below its call level, 95% of initial level, on any monthly observation date after three months.
If the notes are not called and the final level of the index is less than or equal to its call level, the payout at maturity will be par plus 90.7499%.
If the index finishes above the call level but below 120% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for every 1% increase of the index to a minimum payout of $0 per note.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Bearish autocallable securities
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| Underlying index: | S&P 500 index
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| Amount: | $6,155,000
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| Maturity: | March 26, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and the final level of the index is less than or equal to call level, par plus 90.7499%; if the index finishes above the call level but at or below the trigger level, par; otherwise, investors will lose 1% for every 1% increase of the index to a minimum payout of $0
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| Call: | If the index closes at or below call level on any monthly observation date after three months, notes will be called at par plus annualized call premium of 30.25%
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| Initial level: | 12,519.88
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| Trigger level: | 15,023.856, 120% of initial level
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| Call level: | 11,893.886; 95% of initial level
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| Strike date: | March 17
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| Pricing date: | March 21
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| Settlement date: | March 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17331HBM7
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