By Wendy Van Sickle
Columbus, Ohio, Aug. 11 – Citigroup Global Markets Holdings Inc. priced $1.2 million of 0% bearish autocallable securities due Aug. 13, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called automatically at par plus a call premium of 15.75% per annum for the number of trading days elapsed if the index closes at or below its initial levelon any trading day starting Nov. 8.
If the notes are not called and the final level of the index is less than or equal to its call level, the payout at maturity will be par plus the applicable premium.
If the index finishes above the call level but below 115% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for every 1% increase of the index to a minimum payout of $0 per note.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Bearish autocallable securities
|
| Underlying index: | S&P 500 index
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| Amount: | $1,195,000
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| Maturity: | Aug. 13, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called and the final level of the index is less than or equal to call level, par plus the applicable premium; if the index finishes above the call level but at or below the trigger level, par; otherwise, investors will lose 1% for every 1% increase of the index to a minimum payout of $0
|
| Call: | If the index closes at or below initial level on any trading day starting Nov. 8, notes will be called at par plus call premium of 15.75% per annum for the number of trading days elapsed
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| Initial level: | 4,518.44
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| Trigger level: | 5,196.206, 115% of initial level
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| Strike date: | Aug. 7
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| Pricing date: | Aug. 8
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| Settlement date: | Aug. 11
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.25%
|
| Cusip: | 17291Q7D0
|
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