By William Gullotti
Buffalo, N.Y., June 27 – Citigroup Global Markets Holdings Inc. priced $5.25 million of 0% dual directional geared buffer securities with autocallable feature due Dec. 27, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an 11.9% annualized call premium if each index closes at or above its initial level on any semiannual valuation date.
If each index’s final level is greater than or equal to its initial level, the payout at maturity will be par plus 17.85%.
If the least performing index’s final level is less than its initial level but greater than or equal to its final buffer level, 80% of its initial level, the payout will be par plus the absolute value of that index’s return.
Otherwise, investors will lose 1.25% for every 1% decline of the worst performer beyond 20%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Dual directional geared buffer securities with autocallable feature
|
| Underlying indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $5,253,000
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| Maturity: | Dec. 27, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index’s final level is greater than or equal to initial level, par plus 17.85%; if the least performing index’s final level is less than initial level but greater than or equal to final buffer level, par plus the absolute value of that index’s return; otherwise, 1.25% loss for every 1% that the worst performer declines beyond 20%
|
| Call: | Automatically at par plus an 11.9% annualized call premium if each index closes at or above its initial level on any semiannual valuation date
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| Initial levels: | 4,388.71 for S&P, 1,866.699 for Russell
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| Final buffer levels: | 3,510.968 for S&P, 1,493.359 for Russell; 80% of initial index level
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| Strike date: | June 20
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| Pricing date: | June 21
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| Settlement date: | June 26
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.2%
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| Cusip: | 17291RA85
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