By Wendy Van Sickle
Columbus, Ohio, Sept. 22 – Citigroup Global Markets Holdings Inc. priced $10 million of autocallable phoenix securities due Sept. 23, 2024 linked to the SPDR S&P Biotech ETF, according to a 424B8 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 15.05% if the fund 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 fund closes at or above its initial price on any quarterly valuation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the fund finishes below the 87% buffer, in which case investors will lose 1.14943% for each 1% decline in the share price 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 fund: | SPDR S&P Biotech ETF
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| Amount: | $10 million
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| Maturity: | Sept. 23, 2024
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| Coupon: | 15.05% annualized, payable quarterly if the fund closes at or above coupon barrier on the relevant determination date; any previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless the fund finishes below buffer, in which case 1.14943% loss for each 1% decline in share price beyond 13%
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| Call: | At par plus contingent coupon if fund closes at or above initial price on any quarterly valuation date
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| Initial share price: | $77.11
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| Coupon barrier: | $67.086; 87% of initial price
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| Buffer: | $67.086; 87% of initial price
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| Strike date: | Sept. 15
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| Pricing date: | Sept. 18
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| Settlement date: | Sept. 21
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.1%
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| Cusip: | 17291QSS4
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