By William Gullotti
Buffalo, N.Y., Aug. 3 – Citigroup Global Markets Holdings Inc. priced $2.4 million autocallable equity-linked securities due Feb. 1, 2024 tied to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable monthly at an annual rate of 8.75%.
The notes will be automatically called at par plus coupon if each index closes at or above initial level on any semiannual observation date.
If each index finishes at or above its downside threshold, 80% of initial level, the payout at maturity will be par plus the fixed coupon.
Otherwise, investors will lose 1.25% for every 1% decline of the worst performer below 20%.
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 equity-linked securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $2.4 million
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| Maturity: | Feb. 1, 2024
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| Coupon: | 8.75%, payable monthly
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold, par plus last fixed coupon; otherwise, investors will lose 1.25% for every 1% decline of the lesser-performing index below 20%
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| Call: | Automatically at par plus coupon if each index closes at or above initial level on any semiannual observation date
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| Initial index levels: | 4,447.7 for S&P, 2,250.343 for Russell
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| Downside threshold: | 3,558.16 for S&P, 1,800.274 for Russell; 80% of initial levels
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| Strike date: | July 27
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| Pricing date: | July 28
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| Settlement date: | Aug. 2
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.05%
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| Cusip: | 17330PYD5
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