By William Gullotti
Buffalo, N.Y., Oct. 13 – Citigroup Global Markets Holdings Inc. priced $5 million of market-linked securities – autocallable with contingent downside due Oct. 12, 2027 linked to the performance of 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 at par plus an annualized call premium of 10.6% if the index closes at or above its initial level on any semiannual observation date after one year.
If the notes are not called, the payout at maturity will be par unless the index finishes below its 80% downside threshold, in which case investors will be fully exposed to the decline of the index from its initial level.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Market linked securities – autocallable with contingent downside
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| Underlying index: | S&P 500 index
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| Amount: | $5 million
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| Maturity: | Oct. 12, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless index falls by more than 20%, in which case 1% loss per 1% decline from initial level
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| Call: | At par plus an annualized call premium of 10.6% if index closes at or above its initial level on any semiannual observation date after one year
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| Initial level: | 4,308.5
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| Downside threshold: | 3,446.8; 80% of initial level
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| Pricing date: | Oct. 6
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| Settlement date: | Oct. 12
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| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
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| Fees: | 0.875%
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| Cusip: | 17291QVR2
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