By William Gullotti
Buffalo, N.Y., Sept. 8 – Citigroup Global Markets Holdings Inc. priced $4.89 million of autocallable contingent coupon equity-linked securities due June 30, 2026 linked to the worst performing of the S&P 500 Dynamic Participation index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annual rate of 5% if each index closes at or above the coupon barrier level, 85% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any quarterly valuation date after one year.
If the notes are not called and each index finishes at or above final buffer level, 85% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond the buffer.
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 coupon equity-linked securities
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| Underlying indexes: | Russell 2000 index, S&P 500 Dynamic Participation index
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| Amount: | $4,891,000
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| Maturity: | June 30, 2026
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| Coupon: | 5% annualized rate, payable monthly if each index closes at or above coupon barrier level on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each index finishes at or above buffer level; otherwise, investors will lose 1% for every 1% decline of the worst performer beyond the buffer
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| Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly valuation date after one year
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| Initial levels: | 2,334.396 for Russell, 630.82 for S&P Dynamic
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| Coupon barrier levels: | 1,984.237 for Russell, 536.197 for S&P Dynamic; 85% of initial levels
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| Final buffer levels: | 1,984.237 for Russell, 536.197 for S&P Dynamic; 85% of initial levels
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.9%
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| Cusip: | 17329FWV2
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