By William Gullotti
Buffalo, N.Y., June 1 – Citigroup Global Markets Holdings Inc. priced $1 million of 0% autocallable barrier securities due May 28, 2027 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus an annualized 10.95% call premium if the index closes at or above its initial level on any annual call observation date.
If the notes are not called and the index finishes at or above initial level, the payout at maturity will be the greater of par plus 25% and par plus the return.
If the index declines but finishes at or above 75% of its initial level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Autocallable barrier securities
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Underlying index: | S&P 500 index
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Amount: | $1 million
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Maturity: | May 28, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes positive, the greater of par plus 25% and par plus index return; par if the index declines but finishes at or above barrier level; otherwise, investors will lose 1% for each 1% of index decline from initial level
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Call: | At par plus an annualized call premium of 10.95% if the index closes at or above initial level on any annual call observation date
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Initial level: | 3,978.73
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Trigger level: | 2,984.048; 75% of initial level
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Pricing date: | May 25
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Settlement date: | May 31
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.35%
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Cusip: | 17330FNS6
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