New York, Aug. 11 – Citigroup Global Markets Holdings Inc. priced $13 million of contingent income autocallable securities due Aug. 13, 2024 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.5%, paid monthly, if the underlying fund closes at or above its 90% downside threshold on the related monthly observation date. Previously unpaid coupons will also be paid.
The securities will be called automatically starting Sept. 8 at par if the price of the underlying stock is greater than or equal to its initial price on any monthly review date.
At maturity the payout will be par unless the ETF declines by more than its 10% buffer in which case investors will lose 111.111% of the decline beyond the buffer.
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: | Contingent income autocallable securities
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| Underlying ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $13 million
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| Maturity: | Aug. 13, 2024
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| Coupon: | 11.5%, paid monthly, if the underlying fund closes at or above its 90% downside threshold on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the ETF declines by more than its buffer in which case investors will lose 111.111% of the decline beyond the buffer
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| Call: | Automatically starting Sept. 8 at par if the price of the underlying stock is greater than or equal to its initial price on any monthly review date
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| Initial level: | $450.71
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| Buffer: | 10%
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| Downside leverage: | 111.111%
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| Pricing date: | Aug. 8
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| Settlement date: | Aug. 11
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.1% including a structuring fee of 0.05%
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| Cusip: | 17291Q5W0
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