Chicago, Oct. 28 – Citigroup Global Markets Holdings Inc. priced $50,000 phoenix autocallable securities due March 15, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the index closes at or above the coupon barrier level, 80% of the initial level, on a quarterly observation date, the notes will pay a contingent coupon for that quarter at an annualized rate of 9.75%. Previously unpaid coupons will also be paid.
The notes will be called at par plus any contingent coupon if the index closes at or above the initial level on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless the index finishes below the 80% final barrier level, in which case investors will be fully exposed to the index decline.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Phoenix autocallable securities
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Underlying index: | S&P 500 index
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Amount: | $50,000
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Maturity: | March 15, 2023
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Coupon: | 9.75% annualized, payable if index closes at or above barrier level on quarterly observation date; previously unpaid coupons will also be paid
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Price: | Par
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Payout at maturity: | Par plus contingent coupon if index finishes at or above final barrier level; otherwise, exposure to index decline
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Call: | At par plus final contingent coupon if index closes at or above initial level on a quarterly observation date
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Initial level: | 4,384.65
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Coupon barrier level: | 3,507.72, 80% of initial level
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Final barrier level: | 3,507.72, 80% of initial level
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Strike date: | Feb. 25
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Pricing date: | Feb. 28
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Settlement date: | March 3
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17330AJQ6
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