By Kiku Steinfeld
Chicago, Nov. 8 – Citigroup Global Markets Holdings Inc. priced $6.26 million of autocallable contingent coupon equity-linked securities due July 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 buffer 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 below 15%.
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: | $6,255,000
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| Maturity: | July 30, 2026
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| Coupon: | 5% annualized rate, payable monthly if each index closes at or above coupon buffer level, on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each index closes at or above final buffer; otherwise, investors will lose 1% for every 1% decline of the worst performer below the buffer
|
| 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: | 2,191.833for Russell, 656.31 for S&P Dynamic
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| Coupon buffer levels: | 1,863.058 for Russell, 557.864 for S&P Dynamic; 85% of initial levels
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| Final buffer levels: | 1,863.058 for Russell, 557.864 for S&P Dynamic; 85% of initial levels
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| Pricing date: | July 27
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| Settlement date: | July 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4%
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| Cusip: | 17329QWV8
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