By William Gullotti
Buffalo, N.Y., Aug. 25 – Citigroup Global Markets Holdings Inc. priced $1.39 million of 0% bearish autocallable securities due Aug. 27, 2024 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.
The notes will be called automatically at par plus a call premium of 9.05% if the index closes at or below its call level, 85% of initial level, on any trading day during the life of the notes.
If the notes are not called and the final level of the index is less than or equal to its call level, the payout at maturity will be par plus 9.05%.
If the index finishes flat or declines up to call level, the payout will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for every 1% increase of the index to a minimum payout of 90% of par.
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: | Bearish autocallable securities
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| Underlying index: | S&P 500 index
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| Amount: | $1.39 million
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| Maturity: | Aug. 27, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and the final level of the index is less than or equal to call level, par plus 9.05%; if the index finishes flat or declines up to call level, par plus the absolute value of the index return; otherwise, investors will lose 1% for every 1% increase of the index to a minimum payout of 90% of par
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| Call: | If the index closes at or below call level on any trading day during the life of the notes, the notes will be called at par plus 9.05%
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| Initial level: | 4,137.99
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| Call level: | 3,517.292; 85% of initial level
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| Pricing date: | Aug. 22
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| Settlement date: | Aug. 25
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 17330RD93
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