By Kiku Steinfeld
Chicago, March 2 – Citigroup Global Markets Holdings Inc. priced $1.23 million of autocallable securities due Feb. 28, 2024 linked to the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be automatically called at par plus an annualized redemption premium of 7.5% if the closing level of each underlying index is at or above its initial level on any annual review date.
If the notes are not called and each index finishes above its initial level, the payout at maturity will be par plus 1.25 times the return of the lesser-performing index.
If either index finishes flat or falls by up to 15%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index beyond 15%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
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| Underlying indexes: | Nasdaq-100 index and Russell 2000 index
|
| Amount: | $1,226,000
|
| Maturity: | Feb. 28, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above its initial level, par plus 1.25 times return of lesser-performing index; if either index finishes flat or falls by up to 15%, par; otherwise, 1% loss for each 1% decline of the lesser-performing index beyond 15%
|
| Call: | Automatically at par plus annualized premium of 7.5% if each index closes at or above its initial level on any annual redemption date
|
| Initial levels: | 13,194.71 for Nasdaq, 2,231.314 for Russell
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| Buffer levels: | 11,215.504 for Nasdaq, 1,896.617 for Russell; 85% of initial levels
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 26
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.6%
|
| Cusip: | 17328YLM4
|
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