By Wendy Van Sickle
Columbus, Ohio, July 2 – Citigroup Global Markets Holdings Inc. priced $10 million of 8.25% fixed-coupon autocallable notes due June 30, 2021 linked to the shares of the SPDR Dow Jones industrial average ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest is payable quarterly.
The notes will be called at par if the ETF closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless the ETF finishes below its 80% downside threshold level, in which case investors will receive a number of shares of the underlier equal to the exchange ratio, which is the stated principal amount divided by the downside threshold level, or the cash value of those shares, at the issuer’s option.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Fixed-coupon autocallable notes
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| Underlying ETF: | SPDR Dow Jones industrial average ETF Trust
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| Amount: | $10 million
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| Maturity: | June 30, 2021
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| Coupon: | 8.25%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless the ETF finishes below its downside threshold level, in which case investors will receive a number of shares of the underlier equal to the exchange ratio, which is the stated principal amount divided by the downside threshold level, or the cash value of those shares, at the issuer’s option
|
| Call: | At par if ETF closes at or above its initial level on any quarterly determination date
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| Initial value: | $254.63
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| Downside threshold: | $203.704, 80% of initial level
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| Exchange ratio: | 4.90908
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Agent: | Citigroup Global Markets Inc.
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.2%
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| Cusip: | 17324XM98
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