By Angela McDaniels
Tacoma, Wash., July 8 – Citigroup Global Markets Holdings Inc. priced $100,000 of 0% autocallable securities due June 28, 2024 linked to the lesser 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.
The notes will be automatically called at par plus the call premium if each index closes at or above its initial level on any of four annual valuation dates. The call premium is 8.5% for the first two valuation dates, 25.5% for the third valuation date and 34% for the fourth valuation date.
If the notes are not called and the final level of the lesser-performing index is greater than or equal to its initial level, the payout at maturity will be par plus 42.5%.
If the final level of the lesser-performing index is less than its initial level but greater than or equal to its buffer value, 85% of its initial level, the payout will be par.
If the final level of the lesser-performing index is less than its buffer value, investors will lose 1% for every 1% that the lesser-performing index declines beyond 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 securities
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $100,000
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| Maturity: | June 28, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If notes are not called and final level of lesser-performing index is greater than or equal to initial level, par plus 42.5%; if final level of lesser-performing index is less than initial level but greater than or equal to buffer value, par; if final level of lesser-performing index is less than buffer value, 1% loss for every 1% that lesser-performing index declines beyond 15%
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| Call: | Automatically at par plus call premium if each index closes at or above initial level on any of four annual valuation dates; call premium is 8.5% on June 25, 2020 and June 25, 2021, 25.5% on June 27, 2022 and 34% on June 26, 2023
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| Initial levels: | 1,521.035 for Russell 2000 and 2,917.38 for S&P 500
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| Buffer values: | 1,292.880 for Russell 2000 and 2,479.773 for S&P 500, or 85% of initial levels
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| Pricing date: | June 25
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| Settlement date: | June 28
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.55%
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| Cusip: | 17327TBP0
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