By Wendy Van Sickle
Columbus, Ohio, Aug. 8 – Citigroup Global Markets Holdings Inc. priced $10 million of airbag autocallable contingent yield notes due Aug. 8, 2024 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest will be payable monthly at an annualized rate of 11.05% if the ETF closes above its coupon barrier, 90% of the initial level, on the related observation date
The notes will be called automatically at par if the shares close at or above the initial share price on any monthly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, 90% of the initial share price, in which case the payout will be a number of shares equal to $1,000 divided by the conversion price.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Airbag autocallable contingent yield notes
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| Underlying ETF: | SPDR S&P 500 ETF trust
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| Amount: | $10 million
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| Maturity: | Aug. 8, 2024
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| Coupon: | 11.05%, payable monthly if ETF closes above coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless final share price is less than conversion price, in which case 2.46842 shares
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| Call: | Automatically at par if the shares close at or above initial share price on any monthly observation date
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| Initial share price: | $450.13
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| Coupon barrier: | $405.12, 90% of initial share price
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| Conversion price: | $405.12, 90% of initial share price
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| Strike date: | Aug. 2
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| Pricing date: | Aug. 3
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| Settlement date: | Aug. 8
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| Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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| Fees: | 0.1%
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| Cusip: | 17331M774
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