Chicago, Aug. 1 – Citigroup Global Markets Holdings Inc. priced $1 million of 0% autocallable securities due July 30, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on July 25, 2024 with a premium of a 9.6% annual rate if the index closes above its initial value and on any subsequent annual review date.
If the index finishes above 90% of its initial level the payout at maturity will be par plus the 28.8% premium for the final valuation date. Investors will receive par if the index finishes lower than the 90% trigger level but ends above the 70% barrier and lose 1% for every 1% that the index declines if it finishes below its barrier.
The notes are guaranteed by Citigroup Inc.
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 securities
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| Underlying index: | S&P 500 index
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| Amount: | $1 million
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| Maturity: | July 30, 2026
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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 trigger value, par plus 28.8% premium for final valuation date; par if index declines beyond 10% but finishes at or above its 70% barrier; otherwise, 1% loss for every 1% that index declines
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| Call: | Automatically starting on July 25, 2024 with a premium of a 9.6% annual rate if the index closes above its initial value and on any subsequent annual review date
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| Initial level: | 4,567.46
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| Trigger value: | 4,110.714, 90% of initial level
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| Final barrier: | 3,197.222, 70% of initial level
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| Pricing date: | July 25
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| Settlement date: | July 28
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17291RSJ2
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