By Sarah Lizee
Olympia, Wash., April 18 – Citigroup Global Markets Holdings Inc. priced $6 million of 7.85% autocallable equity-linked securities due April 21, 2020 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.
The notes will be automatically redeemed at par plus the coupon if each index closes at or above its initial level on Oct. 16, 2019 or Jan. 16, 2020.
A knock-in event will occur if, on any day during the life of the notes, either index closes below its 70% knock-in level.
If both indexes finish at or above their initial levels, the payout will be par.
If either index finishes below its initial level but a knock-in event has never occurred, the payout will be par.
If either index finishes below its initial level and a knock-in event has occurred, the payout will be par plus the return of the lesser performing index with full exposure to the decline.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable equity-linked securities
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $5,995,000
|
| Maturity: | April 21, 2020
|
| Coupon: | 7.85%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if each index finishes above initial level; par if any index finishes below initial level but has never closed below its knock-in level; otherwise, full exposure to decline of lesser performing index
|
| Call: | At par plus interest if the worst-performing asset closes at or above initial level on Oct. 16, 2019 or Jan. 16, 2020
|
| Initial levels: | 2,907.06 for S&P, 1,582.788 for Russell
|
| Knock-in levels: | 2,034.942 for S&P, 1,107.952 for Russell, 70% of initial levels
|
| Pricing date: | April 16
|
| Settlement date: | April 22
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17326YBT2
|
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