By William Gullotti
Buffalo, N.Y., July 27 – Citigroup Global Markets Holdings Inc. priced $1.19 million of autocallable contingent coupon equity-linked securities due July 27, 2027 linked to the worst performing of the Dow Jones industrial average and the S&P 500 Dynamic Participation index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annual rate of 7.3% if each index closes at or above the coupon barrier level, 70% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any monthly valuation date after one year.
If the notes have not been called and each index finishes at or above 80% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 20%.
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: | Autocallable contingent coupon equity-linked securities
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| Underlying indexes: | S&P 500 Dynamic Participation index, Dow Jones industrial average
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| Amount: | $1.19 million
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| Maturity: | July 27, 2027
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| Coupon: | 7.3% annualized rate, payable monthly if each index closes at or above coupon barrier level, on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above final buffer, par plus final coupon; otherwise, 1% loss for every 1% decline of the worst performer below 20%
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| Call: | Automatically at par plus coupon if each index closes at or above initial level on any monthly valuation date after one year
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| Initial levels: | 601.77 for S&P Dynamic, 31,899.29 for Dow
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| Coupon barrier levels: | 421.239 for S&P Dynamic, 22,329.503 for Dow; 70% of initial levels
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| Final buffer levels: | 481.416 for S&P Dynamic, 25,519.432 for Dow; 80% of initial levels
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| Pricing date: | July 22
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| Settlement date: | July 27
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4%
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| Cusip: | 17330PPU7
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