New York, April 12 – Citigroup Global Markets Holdings Inc. priced $11 million of 10.5% autocallable phoenix securities due April 11, 2025 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a coupon of 10.5% if the ETF closes at or above its 90% coupon barrier on the related monthly valuation date, plus any previously unpaid coupons.
They will be called automatically starting May 8 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent monthly review date.
The payout at maturity will be par if the ETF finishes at or above its 90% final barrier. If the ETF ends below the final barrier investors will lose 111.111% of the decline beyond the final barrier.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable phoenix securities
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| Underlying ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $11 million
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| Maturity: | April 11, 2025
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| Coupon: | 10.5% if the ETF closes at or above its 90% coupon barrier on monthly valuation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If ETF finishes at or above final barrier par; if ETF finishes below the final barrier investors lose 111.111% of decline beyond final barrier
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| Initial level: | $518.43
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| Final barrier: | $466.587, 90% of initial level
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| Coupon barrier: | $466.587, 90% of initial level
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| Downside leverage: | 111.111%
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| Call: | Automatically starting May 8 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent monthly review date
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| Pricing date: | April 8
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| Settlement date: | April 11
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.1%
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| Cusip: | 17331AZ87
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