By William Gullotti
Buffalo, N.Y., June 22 – Citigroup Global Markets Holdings Inc. priced $3.24 million of 0% jump securities with autocallable feature due June 21, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 9.3% per year if the index closes at or above its initial level on any quarterly valuation date after one year.
If the index’s final level is greater than or equal to its initial level, the payout at maturity will be par plus 46.5%.
Investors will receive par if the index declines by no more than 20% and will be fully exposed to loss if it declines by more than 20%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Jump securities with autocallable feature
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| Underlying index: | S&P 500 index
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| Amount: | $3.24 million
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| Maturity: | June 21, 2028
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the index’s final level is greater than or equal to the initial level, par plus 46.5%; if index falls by up to 20%, par; otherwise, 1% loss for every 1% that the index declines from its initial level
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| Call: | Automatically at par plus 9.3% per year if index closes at or above initial level on any quarterly valuation date after one year
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| Initial level: | 4,425.84
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| Trigger level: | 3,540.672; 80% of initial level
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| Pricing date: | June 15
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| Settlement date: | June 21
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| Underwriter: | Citigroup Global Markets Inc.
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.36%
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| Cusip: | 17291RD58
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