By Wendy Van Sickle
Columbus, Ohio, Oct. 5 – Citigroup Global Markets Holdings Inc. priced $1.6 million of 0% autocallable contingent barrier notes due Dec. 8, 2025 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If index closes at or above its initial level on Oct. 16, 2024, the notes will be called at par plus a premium of 10%.
If index finishes at or above its initial level, the payout at maturity will be par plus 1.5 times the index return.
If the index declines up to 22%, investors will receive par. Otherwise, investors will lose 1% for each 1% decline of the index from initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent barrier notes
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| Underlying index: | S&P 500 index
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| Amount: | $1.6 million
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| Maturity: | Dec. 8, 2025
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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 initial level, par plus 1.5 times the index return; if the index declines but finishes at or above barrier level, par; otherwise, investors will lose 1% for each 1% decline from initial level
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| Call: | If index closes at or above initial level on Oct. 16, 2024, at par plus a 10% call premium
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| Initial level: | Lowest closing level from Sept. 29 through Nov. 1
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| Barrier level: | 78% of initial level
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| Strike date: | Sept. 29
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| Pricing date: | Oct. 2
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| Settlement date: | Oct. 5
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.58%
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| Cusip: | 17291QYL2
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