By William Gullotti
Buffalo, N.Y., July 12 – Citigroup Global Markets Holdings Inc. priced $3.5 million of 0% autocallable contingent barrier notes due July 2, 2025 tied 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.
If index closes at or above its initial level on July 8, 2024, the notes will be called at par plus a premium of 11.45%.
If index finishes at or above its initial level, the payout at maturity will be par plus 1.25 times the index return.
If the index declines up to 25%, investors will receive par. Otherwise, investors will lose 1% for each 1% decline of the index from initial level.
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: | Autocallable contingent barrier notes
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| Underlying index: | S&P 500 index
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| Amount: | $3.5 million
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| Maturity: | July 2, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index finishes at or above its initial level, par plus 1.25 times the index return; if the index declines but finishes at or above barrier level, par; otherwise, investors will lose 1% for each 1% decline from initial level
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| Call: | If index closes at or above initial level on July 8, 2024, at par plus an 11.45% call premium
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| Initial level: | 4,328.82
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| Barrier level: | 3,246.615; 75% of initial level
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| Strike date: | June 26
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| Pricing date: | June 27
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| Settlement date: | June 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17291RSA1
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