New York, Feb. 20 – Citigroup Global Markets Holdings Inc. priced $11 million of 13.25% autocallable phoenix securities due Feb. 18, 2025 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a coupon of 13.25% if the ETF closes at or above its 80% coupon barrier on the related valuation date, plus any previously unpaid coupons.
They will be called automatically starting May 13 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date.
The payout at maturity will be par if the ETF finishes at or above its 80% final barrier. If the ETF ends below the final barrier investors will lose 125% of the decline beyond the final barrier.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable phoenix securities
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| Underlying ETF: | SPDR S&P Biotech ETF
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| Amount: | $11 million
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| Maturity: | Feb. 18, 2025
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| Coupon: | 13.25% if the ETF closes at or above its 80% coupon barrier on the related valuation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If ETF finishes at or above final barrier par; if ETF finishes below the final barrier investors lose 125% of decline beyond final barrier
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| Initial level: | $91.04
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| Final barrier: | $72.832, 80% of initial level
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| Coupon barrier: | $72.832, 80% of initial level
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| Downside leverage: | 125%
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| Call: | Automatically starting May 13 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent quarterly review date
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| Pricing date: | Feb. 12
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| Settlement date: | Feb. 15
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.1%
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| Cusip: | 17291LBF1
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