New York, April 22 – Citigroup Global Markets Holdings Inc. priced $15.5 million of 11.2% autocallable phoenix securities due April 23, 2025 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a coupon of 11.2%, paid quarterly, if the ETF closes at or above its 90% coupon barrier on the related valuation date, plus any previously unpaid coupons.
They will be called automatically at par if the closing price of the underlying ETF is greater than or equal to its initial price on any quarterly review date.
The payout at maturity will be par if the ETF finishes at or above its 90% final buffer. Otherwise, investors will lose 1.11111% for each 1% that the ETF declines beyond 10%.
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: | Autocallable phoenix securities
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| Underlying ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $15.5 million
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| Maturity: | April 23, 2025
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| Coupon: | 11.2%, paid quarterly if the ETF closes at or above its 90% coupon barrier on the related valuation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If ETF finishes at or above final buffer, par; otherwise, lose 1.11111% for each 1% that the ETF declines beyond 10%
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| Call: | Automatically at par if the closing price of the underlying ETF is greater than or equal to its initial price on any quarterly review date
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| Initial level: | $503.53
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| Final buffer: | $453.177, 90% of initial level
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| Coupon barrier: | $453.177, 90% of initial level
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| Downside leverage: | 111.111%
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| Strike date: | April 16
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| Pricing date: | April 17
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| Settlement date: | April 22
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.1%
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| Cusip: | 17331UBN6
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