By William Gullotti
Buffalo, N.Y., June 22 – Citigroup Global Markets Holdings Inc. priced $5 million of autocallable phoenix securities due June 20, 2024 linked to the S&P MidCap 400 index, according to a 424B8 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annual rate of 12.3% if the index closes at or above its 90% coupon barrier on the related monthly observation date, including any previously unpaid coupons.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any monthly valuation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the index finishes below the 90% buffer, in which case investors will lose 1.1111% for each 1% decline beyond 10%.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable phoenix securities
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| Underlying index: | S&P MidCap 400 index
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| Amount: | $5 million
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| Maturity: | June 20, 2024
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| Coupon: | 12.3% annualized, payable monthly if the index closes at or above coupon barrier on the relevant determination date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless the index finishes below buffer, in which case 1.1111% loss for each 1% decline beyond buffer
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| Call: | At par plus contingent coupon if index closes at or above initial level on any monthly valuation date
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| Initial level: | 2,582.75
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| Coupon barrier: | 2,324.475; 90% of initial price
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| Buffer: | 2,324.475; 90% of initial price
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| Strike date: | June 13
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| Pricing date: | June 14
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| Settlement date: | June 20
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.1%
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| Cusip: | 17291RCX8
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