By Kiku Steinfeld
Chicago, Aug. 27 – Citigroup Global Markets Holdings Inc. priced $1.27 million of 0% autocallable buffer securities due July 3, 2025 linked to the Russell 2000 index and the S&P 500 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 6.9% annualized premium if both underlying assets close at or above their initial levels on any annual observation date.
If the notes are not called and each asset finishes at or above its initial level, the payout will be par plus the return of the lesser performing asset.
If either asset finishes below its initial level but at or above its buffer level, 85% of its initial level, the payout will be par.
If either asset finishes below its buffer level, investors will lose 1% for every 1% decline of the lesser performing asset beyond 15%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable buffer securities
|
| Underlying assets: | Russell 2000 index and S&P 500 index
|
| Amount: | $1,265,000
|
| Maturity: | July 3, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called and each asset finishes at or above its initial level, par plus lowest return; if either asset finishes below its initial level but at or above its buffer level, par; if either asset finishes below its buffer level, 1% loss for every 1% decline of the lesser performing asset beyond the buffer
|
| Call: | Automatically at par plus 6.9% annualized premium if each underlying closes at or above its initial level on any annual call date
|
| Initial levels: | 4,297.50 for S&P, 2,310.549 for Russell
|
| Buffer levels: | 3,652.875 for S&P, 1,963.967 for Russell; 85% of initial levels
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| Pricing date: | June 30
|
| Settlement date: | July 6
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.95%
|
| Cusip: | 17329FYX6
|
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