By Wendy Van Sickle
Columbus, Ohio, Aug. 1 – Citigroup Global Markets Holdings Inc. priced $20 million of autocallable phoenix securities due July 17, 2024 linked to the S&P MidCap 400 index, 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 annual rate of 10.2% if the index closes at or above its 87% coupon barrier on the related quarterly 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 quarterly 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 87% buffer, in which case investors will lose 1.14943% for each 1% decline beyond 13%.
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: | $20 million
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| Maturity: | July 17, 2024
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| Coupon: | 10.2% annualized, payable quarterly 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 lose 1.14943% for each 1% decline beyond 13%
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| Call: | At par plus contingent coupon if index closes at or above initial level on any quarterly valuation date
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| Initial level: | 2,699.44
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| Coupon barrier: | 2,348.513; 87% of initial price
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| Buffer: | 2,348.513; 87% of initial price
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| Strike date: | July 13
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| Pricing date: | July 17
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| Settlement date: | July 19
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.1%
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| Cusip: | 17291RLT7
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