By Kiku Steinfeld
Chicago, July 30 – Citigroup Global Markets Holdings Inc. priced $2.46 million of 0% autocallable securities due July 21, 2026 linked to the Russell 2000 index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Citigroup will call the notes at par of $1,000 plus a call premium of 8.5% per year if the closing level of each asset is greater than or equal to its initial level on any quarterly call date after one year.
If each asset finishes at or above its initial index level, the payout at maturity will be par plus 42.5%.
Investors will receive par if the final level of any asset is less than its initial level but each asset finishes at or above the buffer level, 85% of its initial level.
Otherwise, investors will lose 1% for each 1% decline of the worst performing asset beyond the buffer level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying assets: | Russell 2000 index, VanEck Vectors Gold Miners ETF
|
| Amount: | $2,455,000
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| Maturity: | July 21, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 42.5% if each asset finishes above initial level; par if either asset finishes below initial level, but each asset finishes at or above buffer level; otherwise, investors will be exposed to decline of least performing asset beyond the buffer
|
| Call: | Automatically at par plus annualized premium of 8.5% if each asset closes at or above initial level on any quarterly call date after one year
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| Initial levels: | 2,163.238 for index and $33.92 for ETF
|
| Buffers: | 1,838.752 for index and $28.832 for ETF; 85% of initial levels
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| Pricing date: | July 16
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| Settlement date: | July 21
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.75%
|
| Cusip: | 17329Q5E6
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