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[8-K] Civista Bancshares, Inc. Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Citigroup Global Markets Holdings Inc., fully guaranteed by Citigroup Inc., is offering Airbag Autocallable Contingent Yield Notes with Memory Coupon Feature linked to the common stock of Microsoft Corporation (MSFT).

  • Issue structure: $10,000 minimum denomination; one-year stated term (settlement 14-Jul-2025, maturity 14-Jul-2026) unless automatically called as early as the first monthly valuation date (11-Aug-2025).
  • Contingent coupon: 14.30% p.a. (鈮� 1.1917 % monthly). Paid only if MSFT鈥檚 closing price on the relevant valuation date 鈮� coupon barrier (90 % of initial price = $453.16). Memory feature accrues unpaid coupons for future payment when the barrier is subsequently met.
  • Automatic call: Notes are redeemed at par plus applicable coupons (including memory coupons) when MSFT closes 鈮� initial price ($503.51) on any monthly valuation date.
  • Principal at risk: If not called and final price 鈮� conversion price ($453.16) investors receive par plus coupon(s). If final price < conversion price, investors receive share delivery amount (22.06726 MSFT shares per note, subject to adjustment), exposing them to the full market downside below the 90 % threshold; value can be substantially below par and potentially zero.
  • Credit & liquidity: Unsecured, unsubordinated obligations of the issuer; payments depend on the creditworthiness of Citigroup Global Markets Holdings Inc. and Citigroup Inc. Notes are not listed; secondary market, if any, will be made solely by CGMI on a best-efforts basis.
  • Pricing & fees: Issue price 100 % of par. Estimated value on trade date 鈮� $9,865 per $10,000 note (1.35 % below issue price) reflecting structuring and hedging costs. Underwriting discount: $10 per note.
  • Key dates: Strike 09-Jul-2025; trade 10-Jul-2025; monthly valuation/coupon schedule provided; final valuation 10-Jul-2026.
  • Risk highlights: potential loss of some or all principal; non-payment of coupons if barrier breached; no participation in MSFT upside; high volatility sensitivity; credit risk; complex tax treatment; no FDIC insurance.

Target investors are those who (1) seek enhanced conditional income, (2) are comfortable with MSFT equity risk, (3) can tolerate principal loss and illiquidity, and (4) understand structured products.

Citigroup Global Markets Holdings Inc., garantita integralmente da Citigroup Inc., offre Note Airbag Autocallable con Cedola Contingente e Funzione Memory collegate all鈥檃zione comune di Microsoft Corporation (MSFT).

  • Struttura dell鈥檈missione: taglio minimo di $10.000; durata dichiarata di un anno (regolamento 14-lug-2025, scadenza 14-lug-2026), salvo richiamo automatico gi脿 dalla prima data di valutazione mensile (11-ago-2025).
  • Cedola contingente: 14,30% annuo (circa 1,1917% mensile). Pagata solo se il prezzo di chiusura di MSFT nella data di valutazione rilevante 猫 鈮� barriera cedolare (90% del prezzo iniziale = $453,16). La funzione memory accumula le cedole non pagate per un pagamento futuro quando la barriera viene successivamente raggiunta.
  • Richiamo automatico: Le note vengono rimborsate a valore nominale pi霉 le cedole applicabili (incluse quelle memory) quando MSFT chiude 鈮� prezzo iniziale ($503,51) in qualsiasi data di valutazione mensile.
  • Capitale a rischio: Se non richiamate e prezzo finale 鈮� prezzo di conversione ($453,16), gli investitori ricevono il valore nominale pi霉 le cedole. Se il prezzo finale < prezzo di conversione, gli investitori ricevono la quantit脿 di azioni (22,06726 azioni MSFT per nota, soggetta ad aggiustamenti), esponendoli al pieno ribasso di mercato sotto la soglia del 90%; il valore pu貌 risultare significativamente inferiore al nominale e potenzialmente nullo.
  • Credito e liquidit脿: Obbligazioni non garantite e non subordinate dell鈥檈mittente; i pagamenti dipendono dalla solvibilit脿 di Citigroup Global Markets Holdings Inc. e Citigroup Inc. Le note non sono quotate; un eventuale mercato secondario sar脿 gestito esclusivamente da CGMI su base best-effort.
  • Prezzo e commissioni: Prezzo di emissione pari al 100% del nominale. Valore stimato alla data di negoziazione circa $9.865 per ogni nota da $10.000 (1,35% sotto il prezzo di emissione) a riflettere costi di strutturazione e copertura. Sconto di sottoscrizione: $10 per nota.
  • Date chiave: Strike 09-lug-2025; negoziazione 10-lug-2025; calendario mensile di valutazione e cedole fornito; valutazione finale 10-lug-2026.
  • Rischi principali: possibile perdita parziale o totale del capitale; mancato pagamento delle cedole se la barriera 猫 violata; nessuna partecipazione all鈥檃umento di MSFT; elevata sensibilit脿 alla volatilit脿; rischio di credito; trattamento fiscale complesso; nessuna assicurazione FDIC.

Investitori target sono coloro che (1) cercano un reddito condizionato incrementato, (2) sono a loro agio con il rischio azionario MSFT, (3) tollerano la perdita di capitale e la scarsa liquidit脿, e (4) comprendono i prodotti strutturati.

Citigroup Global Markets Holdings Inc., garantizado completamente por Citigroup Inc., ofrece Notas Airbag Autocallables con Cup贸n Contingente y Funci贸n Memoria vinculadas a la acci贸n com煤n de Microsoft Corporation (MSFT).

  • Estructura de la emisi贸n: denominaci贸n m铆nima de $10,000; plazo declarado de un a帽o (liquidaci贸n 14-jul-2025, vencimiento 14-jul-2026), salvo que se llame autom谩ticamente desde la primera fecha de valoraci贸n mensual (11-ago-2025).
  • Cup贸n contingente: 14.30% anual (aprox. 1.1917% mensual). Se paga solo si el precio de cierre de MSFT en la fecha de valoraci贸n relevante es 鈮� barrera del cup贸n (90% del precio inicial = $453.16). La funci贸n memoria acumula cupones no pagados para su pago futuro cuando se cumple la barrera.
  • Llamada autom谩tica: Las notas se redimen al valor nominal m谩s los cupones aplicables (incluidos los cupones memoria) cuando MSFT cierra 鈮� precio inicial ($503.51) en cualquier fecha de valoraci贸n mensual.
  • Principal en riesgo: Si no se llama y el precio final 鈮� precio de conversi贸n ($453.16), los inversores reciben el valor nominal m谩s los cupones. Si el precio final < precio de conversi贸n, los inversores reciben la cantidad de acciones (22.06726 acciones MSFT por nota, sujeto a ajustes), exponi茅ndolos a la ca铆da total del mercado por debajo del umbral del 90%; el valor puede ser sustancialmente inferior al nominal y potencialmente cero.
  • Cr茅dito y liquidez: Obligaciones no garantizadas y no subordinadas del emisor; los pagos dependen de la solvencia de Citigroup Global Markets Holdings Inc. y Citigroup Inc. Las notas no est谩n listadas; el mercado secundario, si existe, ser谩 gestionado exclusivamente por CGMI en base a mejores esfuerzos.
  • Precio y comisiones: Precio de emisi贸n del 100% del nominal. Valor estimado en la fecha de negociaci贸n 鈮� $9,865 por cada nota de $10,000 (1.35% por debajo del precio de emisi贸n) reflejando costos de estructuraci贸n y cobertura. Descuento de suscripci贸n: $10 por nota.
  • Fechas clave: Strike 09-jul-2025; negociaci贸n 10-jul-2025; calendario mensual de valoraci贸n y cup贸n proporcionado; valoraci贸n final 10-jul-2026.
  • Aspectos de riesgo: posible p茅rdida parcial o total del capital; no pago de cupones si se supera la barrera; sin participaci贸n en la subida de MSFT; alta sensibilidad a la volatilidad; riesgo crediticio; tratamiento fiscal complejo; sin seguro FDIC.

Inversores objetivo son aquellos que (1) buscan ingresos condicionales mejorados, (2) est谩n c贸modos con el riesgo accionario de MSFT, (3) pueden tolerar p茅rdida de capital e iliquidez, y (4) entienden productos estructurados.

Citigroup Global Markets Holdings Inc.電� Citigroup Inc.鞚� 鞝勳暋 氤挫鞚� 氚涭晞 Microsoft Corporation (MSFT) 氤错喌欤检棎 鞐瓣硠霅� 氅旊毽� 炜犿彴 旮半姤鞚� 鞛堧姅 鞐愳柎氚� 鞓ろ啝旖滊煬敫� 旎嫶鞝勴姼 靾橃澋 雲疙姼毳� 鞝滉车頃╇媹雼�.

  • 氚滍枆 甑“: 斓滌唽 鞎‰┐臧� $10,000; 1雲� 氇呾嫓 旮瓣皠(瓴办牅鞚� 2025雲� 7鞗� 14鞚�, 毵岅赴 2026雲� 7鞗� 14鞚�), 斓滌磮 鞗旉皠 韽夑皜鞚�(2025雲� 8鞗� 11鞚�)攵�韯� 鞛愲彊 臁瓣赴靸來櫂 臧�電�.
  • 旎嫶鞝勴姼 炜犿彴: 鞐� 14.30% (鞗� 鞎� 1.1917%). MSFT鞚� 頃措嫻 韽夑皜鞚� 膦呹皜臧� 炜犿彴 鞛ル步(齑堦赴 臧�瓴╈潣 90% = $453.16) 鞚挫儊鞚� 霑岆 歆�旮�. 氙胳旮� 炜犿彴鞚� 氅旊毽� 旮半姤鞙茧 雸勳爜霅橃柎 鞚错泟 鞛ル步 於╈” 鞁� 歆�旮�.
  • 鞛愲彊 臁瓣赴靸來櫂: MSFT臧� 鞗旉皠 韽夑皜鞚� 欷� 鞏措姁 雮犾澊霛茧弰 齑堦赴 臧�瓴�($503.51) 鞚挫儊鞙茧 毵堦皭頃橂┐ 鞎‰┐臧� 氚� 頃措嫻 炜犿彴(氅旊毽� 炜犿彴 韽暔)瓿� 頃粯 靸來櫂.
  • 鞗愱笀 鞙勴棙: 鞛愲彊 靸來櫂霅橃 鞎婈碃 斓滌 臧�瓴╈澊 鞝勴櫂 臧�瓴�($453.16) 鞚挫儊鞚措┐ 韴瀽鞛愲姅 鞎‰┐臧� 氚� 炜犿彴鞚� 氚涭潓. 斓滌 臧�瓴╈澊 鞝勴櫂 臧�瓴� 氙鸽鞚措┐ 韴瀽鞛愲姅 欤检嫕 鞚鸽弰 靾橂焿(雲疙姼雼� 22.06726 MSFT 欤检嫕, 臁办爼 臧�電�)鞚� 氚涭溂氅�, 90% 旮办 鞚错晿鞚� 鞁滌灔 頃橂澖 鞙勴棙鞐� 雲胳稖霅�; 臧�旃橁皜 鞎‰┐臧�氤措嫟 韥矊 雮卑雮� 0鞚� 霅� 靾� 鞛堨潓.
  • 鞁犾毄 氚� 鞙犽彊靹�: 氚滍枆鞛愳潣 氍措嫶氤� 牍勴泟靾滌渼 毂勲; 歆�旮夓潃 Citigroup Global Markets Holdings Inc. 氚� Citigroup Inc.鞚� 鞁犾毄霃勳棎 霐半澕 雼澕歆�. 雲疙姼電� 靸侅灔霅橃 鞎婌潓; 2彀� 鞁滌灔鞚� 鞛堧嫟氅� CGMI臧� 斓滌劆鞚� 雲鸽牓鞙茧毵� 鞖挫榿.
  • 臧�瓴� 氚� 靾橃垬耄�: 氚滍枆臧�鞎� 100%. 瓯半灅鞚� 於旍爼 臧�旃� 鞎� $9,865 (鞎‰┐臧� $10,000 雽�牍� 1.35% 雮潓), 甑“頇� 氚� 項れ 牍勳毄 氚橃榿. 鞚胳垬 靾橃垬耄�: 雲疙姼雼� $10.
  • 欤检殧 鞚检爼: 鞀ろ姼霛检澊韥� 2025雲� 7鞗� 9鞚�; 瓯半灅 2025雲� 7鞗� 10鞚�; 鞗旉皠 韽夑皜 氚� 炜犿彴 鞚检爼 鞝滉车; 斓滌 韽夑皜 2026雲� 7鞗� 10鞚�.
  • 鞙勴棙 鞖旍暯: 鞚茧秬 霕愲姅 鞝勳暋 鞗愱笀 靻愳嫟 臧�電レ劚; 鞛ル步 鞙勲皹 鞁� 炜犿彴 氙胳旮�; MSFT 靸侅姽 彀胳棳 鞐嗢潓; 雴掛潃 氤�霃欖劚 氙缄皭霃�; 鞁犾毄 鞙勴棙; 氤奠灐頃� 靹鸽 觳橂Μ; FDIC 氤错棙 鞐嗢潓.

雽�靸� 韴瀽鞛�電� (1) 臁瓣贝攵� 靾橃澋 歃濍寑毳� 鞗愴晿瓿�, (2) MSFT 欤检嫕 鞙勴棙鞚� 臧愲偞頃� 靾� 鞛堨溂氅�, (3) 鞗愱笀 靻愳嫟瓿� 鞙犽彊靹� 攵�臁膘潉 瓴敎 靾� 鞛堦碃, (4) 甑“頇� 靸來拡鞚� 鞚错暣頃橂姅 韴瀽鞛愳瀰雼堧嫟.

Citigroup Global Markets Holdings Inc., enti猫rement garanti par Citigroup Inc., propose des Notes Airbag Autocallables 脿 Coupon Conditionnel avec Fonction M茅moire li茅es 脿 l鈥檃ction ordinaire de Microsoft Corporation (MSFT).

  • Structure de l鈥櫭﹎ission : montant minimum de 10 000 $ ; dur茅e nominale d鈥檜n an (r猫glement le 14 juil. 2025, 茅ch茅ance le 14 juil. 2026), sauf rappel automatique d猫s la premi猫re date d鈥櫭﹙aluation mensuelle (11 ao没t 2025).
  • Coupon conditionnel : 14,30 % par an (environ 1,1917 % mensuel). Vers茅 uniquement si le cours de cl么ture de MSFT 脿 la date d鈥櫭﹙aluation concern茅e est 鈮� barri猫re du coupon (90 % du prix initial = 453,16 $). La fonction m茅moire cumule les coupons non pay茅s pour un paiement ult茅rieur lorsque la barri猫re est ensuite atteinte.
  • Rappel automatique : Les notes sont rembours茅es au pair plus les coupons applicables (y compris les coupons m茅moire) lorsque MSFT cl么ture 鈮� prix initial (503,51 $) 脿 n鈥檌mporte quelle date d鈥櫭﹙aluation mensuelle.
  • Capital 脿 risque : Si non rappel茅es et prix final 鈮� prix de conversion (453,16 $), les investisseurs re莽oivent le pair plus les coupons. Si le prix final < prix de conversion, les investisseurs re莽oivent la quantit茅 d鈥檃ctions (22,06726 actions MSFT par note, sous r茅serve d鈥檃justement), les exposant 脿 la baisse totale du march茅 sous le seuil de 90 % ; la valeur peut 锚tre nettement inf茅rieure au pair et potentiellement nulle.
  • Cr茅dit et liquidit茅 : Obligations non garanties et non subordonn茅es de l鈥櫭﹎etteur ; les paiements d茅pendent de la solvabilit茅 de Citigroup Global Markets Holdings Inc. et Citigroup Inc. Les notes ne sont pas cot茅es ; le march茅 secondaire, s鈥檌l existe, sera assur茅 uniquement par CGMI sur une base de meilleurs efforts.
  • Tarification et frais : Prix d鈥櫭﹎ission 脿 100 % du pair. Valeur estim茅e 脿 la date de n茅gociation 鈮� 9 865 $ par note de 10 000 $ (1,35 % en dessous du prix d鈥櫭﹎ission) refl茅tant les co没ts de structuration et de couverture. Remise de souscription : 10 $ par note.
  • Dates cl茅s : Strike 09 juil. 2025 ; n茅gociation 10 juil. 2025 ; calendrier mensuel d鈥櫭﹙aluation et de coupon fourni ; 茅valuation finale le 10 juil. 2026.
  • Points de risque : perte potentielle totale ou partielle du capital ; non-paiement des coupons si la barri猫re est franchie ; pas de participation 脿 la hausse de MSFT ; forte sensibilit茅 脿 la volatilit茅 ; risque de cr茅dit ; traitement fiscal complexe ; pas d鈥檃ssurance FDIC.

Investisseurs cibles sont ceux qui (1) recherchent un revenu conditionnel am茅lior茅, (2) sont 脿 l鈥檃ise avec le risque actions MSFT, (3) peuvent tol茅rer la perte de capital et l鈥檌lliquidit茅, et (4) comprennent les produits structur茅s.

Citigroup Global Markets Holdings Inc., vollst盲ndig garantiert von Citigroup Inc., bietet Airbag Autocallable Contingent Yield Notes mit Memory Coupon Funktion an, die an die Stammaktie von Microsoft Corporation (MSFT) gekoppelt sind.

  • Emissionsstruktur: Mindestnennwert $10.000; einj盲hriger fester Laufzeit (Abwicklung 14. Juli 2025, F盲lligkeit 14. Juli 2026), sofern nicht bereits zum ersten monatlichen Bewertungstag (11. August 2025) automatisch zur眉ckgerufen.
  • Kontingenter Kupon: 14,30% p.a. (ca. 1,1917% monatlich). Wird nur gezahlt, wenn der Schlusskurs von MSFT am jeweiligen Bewertungstag 鈮� Kupon-Schwelle (90% des Anfangspreises = $453,16) ist. Die Memory-Funktion sammelt nicht gezahlte Kupons f眉r sp盲tere Zahlungen an, wenn die Schwelle sp盲ter erreicht wird.
  • Automatischer R眉ckruf: Die Notes werden zum Nennwert plus anfallende Kupons (einschlie脽lich Memory-Kupons) zur眉ckgezahlt, wenn MSFT an einem monatlichen Bewertungstag 鈮� Anfangspreis ($503,51) schlie脽t.
  • Kapitalrisiko: Wenn nicht zur眉ckgerufen und der Schlusskurs 鈮� Wandlungspreis ($453,16), erhalten Anleger Nennwert plus Kupon(s). Liegt der Schlusskurs < Wandlungspreis, erhalten Anleger Anzahl der Aktien (22,06726 MSFT-Aktien pro Note, anpassbar), wodurch sie dem vollen Marktrisiko unterhalb der 90%-Schwelle ausgesetzt sind; der Wert kann deutlich unter dem Nennwert liegen und potenziell null sein.
  • Kredit- und Liquidit盲tsrisiko: Unbesicherte, nicht nachrangige Verbindlichkeiten des Emittenten; Zahlungen h盲ngen von der Bonit盲t von Citigroup Global Markets Holdings Inc. und Citigroup Inc. ab. Die Notes sind nicht b枚rsennotiert; ein m枚glicher Sekund盲rmarkt wird ausschlie脽lich von CGMI auf Best-Effort-Basis betrieben.
  • Preisgestaltung und Geb眉hren: Ausgabepreis 100% vom Nennwert. Gesch盲tzter Wert am Handelstag ca. $9.865 pro $10.000 Note (1,35% unter Ausgabepreis), was Strukturierungs- und Absicherungskosten widerspiegelt. Underwriting-Discount: $10 pro Note.
  • Wichtige Termine: Strike 09. Juli 2025; Handel 10. Juli 2025; monatlicher Bewertungs- und Kuponplan liegt vor; endg眉ltige Bewertung 10. Juli 2026.
  • Risikohinweise: m枚gliches teilweises oder vollst盲ndiges Kapitalverlustrisiko; keine Kuponzahlung bei Unterschreitung der Barriere; keine Teilnahme an Kurssteigerungen von MSFT; hohe Volatilit盲tsempfindlichkeit; Kreditrisiko; komplexe steuerliche Behandlung; keine FDIC-Versicherung.

Zielinvestoren sind Anleger, die (1) ein erh枚htes bedingtes Einkommen suchen, (2) mit dem Aktienrisiko von MSFT vertraut sind, (3) Kapitalverluste und Illiquidit盲t tolerieren k枚nnen und (4) strukturierte Produkte verstehen.

Positive
  • 14.30% contingent annual coupon offers potential income far above conventional one-year notes.
  • Automatic call at or above initial MSFT price allows early return of capital with accrued coupons.
  • Memory coupon feature permits recovery of missed coupons if barrier is later met.
Negative
  • Principal at risk below 90% conversion price; investors may receive depreciated MSFT shares worth far less than par.
  • No upside participation beyond fixed coupons; investors miss any MSFT appreciation.
  • Unsecured credit exposure to Citigroup entities; default would eliminate payments.
  • No exchange listing & limited liquidity may force investors to hold to maturity at discounted valuations.
  • Estimated value (98.65% of issue price) indicates an immediate mark-to-market drag plus 1% underwriting fee.

Insights

TL;DR: High 14.3 % conditional yield but full downside below 90 % strike; suitable only for risk-tolerant investors.

The note pays an above-market coupon contingent on MSFT staying 鈮� $453.16 monthly. Automatic call at 鈮� $503.51 can shorten tenor, capping returns. Memory feature slightly improves income continuity. However, if MSFT falls > 10 % at maturity, holders receive 22.06726 shares, exposing them to amplified losses below the conversion price. Investors forgo dividends and upside beyond coupons. Estimated fair value (98.65 % of par) shows a 1.35 % initial value gap plus illiquidity costs. Credit exposure to Citigroup and lack of listing widen secondary-market discounts. Overall neutral impact for Citigroup (routine issuance) but risk-heavy for buyers.

Citigroup Global Markets Holdings Inc., garantita integralmente da Citigroup Inc., offre Note Airbag Autocallable con Cedola Contingente e Funzione Memory collegate all鈥檃zione comune di Microsoft Corporation (MSFT).

  • Struttura dell鈥檈missione: taglio minimo di $10.000; durata dichiarata di un anno (regolamento 14-lug-2025, scadenza 14-lug-2026), salvo richiamo automatico gi脿 dalla prima data di valutazione mensile (11-ago-2025).
  • Cedola contingente: 14,30% annuo (circa 1,1917% mensile). Pagata solo se il prezzo di chiusura di MSFT nella data di valutazione rilevante 猫 鈮� barriera cedolare (90% del prezzo iniziale = $453,16). La funzione memory accumula le cedole non pagate per un pagamento futuro quando la barriera viene successivamente raggiunta.
  • Richiamo automatico: Le note vengono rimborsate a valore nominale pi霉 le cedole applicabili (incluse quelle memory) quando MSFT chiude 鈮� prezzo iniziale ($503,51) in qualsiasi data di valutazione mensile.
  • Capitale a rischio: Se non richiamate e prezzo finale 鈮� prezzo di conversione ($453,16), gli investitori ricevono il valore nominale pi霉 le cedole. Se il prezzo finale < prezzo di conversione, gli investitori ricevono la quantit脿 di azioni (22,06726 azioni MSFT per nota, soggetta ad aggiustamenti), esponendoli al pieno ribasso di mercato sotto la soglia del 90%; il valore pu貌 risultare significativamente inferiore al nominale e potenzialmente nullo.
  • Credito e liquidit脿: Obbligazioni non garantite e non subordinate dell鈥檈mittente; i pagamenti dipendono dalla solvibilit脿 di Citigroup Global Markets Holdings Inc. e Citigroup Inc. Le note non sono quotate; un eventuale mercato secondario sar脿 gestito esclusivamente da CGMI su base best-effort.
  • Prezzo e commissioni: Prezzo di emissione pari al 100% del nominale. Valore stimato alla data di negoziazione circa $9.865 per ogni nota da $10.000 (1,35% sotto il prezzo di emissione) a riflettere costi di strutturazione e copertura. Sconto di sottoscrizione: $10 per nota.
  • Date chiave: Strike 09-lug-2025; negoziazione 10-lug-2025; calendario mensile di valutazione e cedole fornito; valutazione finale 10-lug-2026.
  • Rischi principali: possibile perdita parziale o totale del capitale; mancato pagamento delle cedole se la barriera 猫 violata; nessuna partecipazione all鈥檃umento di MSFT; elevata sensibilit脿 alla volatilit脿; rischio di credito; trattamento fiscale complesso; nessuna assicurazione FDIC.

Investitori target sono coloro che (1) cercano un reddito condizionato incrementato, (2) sono a loro agio con il rischio azionario MSFT, (3) tollerano la perdita di capitale e la scarsa liquidit脿, e (4) comprendono i prodotti strutturati.

Citigroup Global Markets Holdings Inc., garantizado completamente por Citigroup Inc., ofrece Notas Airbag Autocallables con Cup贸n Contingente y Funci贸n Memoria vinculadas a la acci贸n com煤n de Microsoft Corporation (MSFT).

  • Estructura de la emisi贸n: denominaci贸n m铆nima de $10,000; plazo declarado de un a帽o (liquidaci贸n 14-jul-2025, vencimiento 14-jul-2026), salvo que se llame autom谩ticamente desde la primera fecha de valoraci贸n mensual (11-ago-2025).
  • Cup贸n contingente: 14.30% anual (aprox. 1.1917% mensual). Se paga solo si el precio de cierre de MSFT en la fecha de valoraci贸n relevante es 鈮� barrera del cup贸n (90% del precio inicial = $453.16). La funci贸n memoria acumula cupones no pagados para su pago futuro cuando se cumple la barrera.
  • Llamada autom谩tica: Las notas se redimen al valor nominal m谩s los cupones aplicables (incluidos los cupones memoria) cuando MSFT cierra 鈮� precio inicial ($503.51) en cualquier fecha de valoraci贸n mensual.
  • Principal en riesgo: Si no se llama y el precio final 鈮� precio de conversi贸n ($453.16), los inversores reciben el valor nominal m谩s los cupones. Si el precio final < precio de conversi贸n, los inversores reciben la cantidad de acciones (22.06726 acciones MSFT por nota, sujeto a ajustes), exponi茅ndolos a la ca铆da total del mercado por debajo del umbral del 90%; el valor puede ser sustancialmente inferior al nominal y potencialmente cero.
  • Cr茅dito y liquidez: Obligaciones no garantizadas y no subordinadas del emisor; los pagos dependen de la solvencia de Citigroup Global Markets Holdings Inc. y Citigroup Inc. Las notas no est谩n listadas; el mercado secundario, si existe, ser谩 gestionado exclusivamente por CGMI en base a mejores esfuerzos.
  • Precio y comisiones: Precio de emisi贸n del 100% del nominal. Valor estimado en la fecha de negociaci贸n 鈮� $9,865 por cada nota de $10,000 (1.35% por debajo del precio de emisi贸n) reflejando costos de estructuraci贸n y cobertura. Descuento de suscripci贸n: $10 por nota.
  • Fechas clave: Strike 09-jul-2025; negociaci贸n 10-jul-2025; calendario mensual de valoraci贸n y cup贸n proporcionado; valoraci贸n final 10-jul-2026.
  • Aspectos de riesgo: posible p茅rdida parcial o total del capital; no pago de cupones si se supera la barrera; sin participaci贸n en la subida de MSFT; alta sensibilidad a la volatilidad; riesgo crediticio; tratamiento fiscal complejo; sin seguro FDIC.

Inversores objetivo son aquellos que (1) buscan ingresos condicionales mejorados, (2) est谩n c贸modos con el riesgo accionario de MSFT, (3) pueden tolerar p茅rdida de capital e iliquidez, y (4) entienden productos estructurados.

Citigroup Global Markets Holdings Inc.電� Citigroup Inc.鞚� 鞝勳暋 氤挫鞚� 氚涭晞 Microsoft Corporation (MSFT) 氤错喌欤检棎 鞐瓣硠霅� 氅旊毽� 炜犿彴 旮半姤鞚� 鞛堧姅 鞐愳柎氚� 鞓ろ啝旖滊煬敫� 旎嫶鞝勴姼 靾橃澋 雲疙姼毳� 鞝滉车頃╇媹雼�.

  • 氚滍枆 甑“: 斓滌唽 鞎‰┐臧� $10,000; 1雲� 氇呾嫓 旮瓣皠(瓴办牅鞚� 2025雲� 7鞗� 14鞚�, 毵岅赴 2026雲� 7鞗� 14鞚�), 斓滌磮 鞗旉皠 韽夑皜鞚�(2025雲� 8鞗� 11鞚�)攵�韯� 鞛愲彊 臁瓣赴靸來櫂 臧�電�.
  • 旎嫶鞝勴姼 炜犿彴: 鞐� 14.30% (鞗� 鞎� 1.1917%). MSFT鞚� 頃措嫻 韽夑皜鞚� 膦呹皜臧� 炜犿彴 鞛ル步(齑堦赴 臧�瓴╈潣 90% = $453.16) 鞚挫儊鞚� 霑岆 歆�旮�. 氙胳旮� 炜犿彴鞚� 氅旊毽� 旮半姤鞙茧 雸勳爜霅橃柎 鞚错泟 鞛ル步 於╈” 鞁� 歆�旮�.
  • 鞛愲彊 臁瓣赴靸來櫂: MSFT臧� 鞗旉皠 韽夑皜鞚� 欷� 鞏措姁 雮犾澊霛茧弰 齑堦赴 臧�瓴�($503.51) 鞚挫儊鞙茧 毵堦皭頃橂┐ 鞎‰┐臧� 氚� 頃措嫻 炜犿彴(氅旊毽� 炜犿彴 韽暔)瓿� 頃粯 靸來櫂.
  • 鞗愱笀 鞙勴棙: 鞛愲彊 靸來櫂霅橃 鞎婈碃 斓滌 臧�瓴╈澊 鞝勴櫂 臧�瓴�($453.16) 鞚挫儊鞚措┐ 韴瀽鞛愲姅 鞎‰┐臧� 氚� 炜犿彴鞚� 氚涭潓. 斓滌 臧�瓴╈澊 鞝勴櫂 臧�瓴� 氙鸽鞚措┐ 韴瀽鞛愲姅 欤检嫕 鞚鸽弰 靾橂焿(雲疙姼雼� 22.06726 MSFT 欤检嫕, 臁办爼 臧�電�)鞚� 氚涭溂氅�, 90% 旮办 鞚错晿鞚� 鞁滌灔 頃橂澖 鞙勴棙鞐� 雲胳稖霅�; 臧�旃橁皜 鞎‰┐臧�氤措嫟 韥矊 雮卑雮� 0鞚� 霅� 靾� 鞛堨潓.
  • 鞁犾毄 氚� 鞙犽彊靹�: 氚滍枆鞛愳潣 氍措嫶氤� 牍勴泟靾滌渼 毂勲; 歆�旮夓潃 Citigroup Global Markets Holdings Inc. 氚� Citigroup Inc.鞚� 鞁犾毄霃勳棎 霐半澕 雼澕歆�. 雲疙姼電� 靸侅灔霅橃 鞎婌潓; 2彀� 鞁滌灔鞚� 鞛堧嫟氅� CGMI臧� 斓滌劆鞚� 雲鸽牓鞙茧毵� 鞖挫榿.
  • 臧�瓴� 氚� 靾橃垬耄�: 氚滍枆臧�鞎� 100%. 瓯半灅鞚� 於旍爼 臧�旃� 鞎� $9,865 (鞎‰┐臧� $10,000 雽�牍� 1.35% 雮潓), 甑“頇� 氚� 項れ 牍勳毄 氚橃榿. 鞚胳垬 靾橃垬耄�: 雲疙姼雼� $10.
  • 欤检殧 鞚检爼: 鞀ろ姼霛检澊韥� 2025雲� 7鞗� 9鞚�; 瓯半灅 2025雲� 7鞗� 10鞚�; 鞗旉皠 韽夑皜 氚� 炜犿彴 鞚检爼 鞝滉车; 斓滌 韽夑皜 2026雲� 7鞗� 10鞚�.
  • 鞙勴棙 鞖旍暯: 鞚茧秬 霕愲姅 鞝勳暋 鞗愱笀 靻愳嫟 臧�電レ劚; 鞛ル步 鞙勲皹 鞁� 炜犿彴 氙胳旮�; MSFT 靸侅姽 彀胳棳 鞐嗢潓; 雴掛潃 氤�霃欖劚 氙缄皭霃�; 鞁犾毄 鞙勴棙; 氤奠灐頃� 靹鸽 觳橂Μ; FDIC 氤错棙 鞐嗢潓.

雽�靸� 韴瀽鞛�電� (1) 臁瓣贝攵� 靾橃澋 歃濍寑毳� 鞗愴晿瓿�, (2) MSFT 欤检嫕 鞙勴棙鞚� 臧愲偞頃� 靾� 鞛堨溂氅�, (3) 鞗愱笀 靻愳嫟瓿� 鞙犽彊靹� 攵�臁膘潉 瓴敎 靾� 鞛堦碃, (4) 甑“頇� 靸來拡鞚� 鞚错暣頃橂姅 韴瀽鞛愳瀰雼堧嫟.

Citigroup Global Markets Holdings Inc., enti猫rement garanti par Citigroup Inc., propose des Notes Airbag Autocallables 脿 Coupon Conditionnel avec Fonction M茅moire li茅es 脿 l鈥檃ction ordinaire de Microsoft Corporation (MSFT).

  • Structure de l鈥櫭﹎ission : montant minimum de 10 000 $ ; dur茅e nominale d鈥檜n an (r猫glement le 14 juil. 2025, 茅ch茅ance le 14 juil. 2026), sauf rappel automatique d猫s la premi猫re date d鈥櫭﹙aluation mensuelle (11 ao没t 2025).
  • Coupon conditionnel : 14,30 % par an (environ 1,1917 % mensuel). Vers茅 uniquement si le cours de cl么ture de MSFT 脿 la date d鈥櫭﹙aluation concern茅e est 鈮� barri猫re du coupon (90 % du prix initial = 453,16 $). La fonction m茅moire cumule les coupons non pay茅s pour un paiement ult茅rieur lorsque la barri猫re est ensuite atteinte.
  • Rappel automatique : Les notes sont rembours茅es au pair plus les coupons applicables (y compris les coupons m茅moire) lorsque MSFT cl么ture 鈮� prix initial (503,51 $) 脿 n鈥檌mporte quelle date d鈥櫭﹙aluation mensuelle.
  • Capital 脿 risque : Si non rappel茅es et prix final 鈮� prix de conversion (453,16 $), les investisseurs re莽oivent le pair plus les coupons. Si le prix final < prix de conversion, les investisseurs re莽oivent la quantit茅 d鈥檃ctions (22,06726 actions MSFT par note, sous r茅serve d鈥檃justement), les exposant 脿 la baisse totale du march茅 sous le seuil de 90 % ; la valeur peut 锚tre nettement inf茅rieure au pair et potentiellement nulle.
  • Cr茅dit et liquidit茅 : Obligations non garanties et non subordonn茅es de l鈥櫭﹎etteur ; les paiements d茅pendent de la solvabilit茅 de Citigroup Global Markets Holdings Inc. et Citigroup Inc. Les notes ne sont pas cot茅es ; le march茅 secondaire, s鈥檌l existe, sera assur茅 uniquement par CGMI sur une base de meilleurs efforts.
  • Tarification et frais : Prix d鈥櫭﹎ission 脿 100 % du pair. Valeur estim茅e 脿 la date de n茅gociation 鈮� 9 865 $ par note de 10 000 $ (1,35 % en dessous du prix d鈥櫭﹎ission) refl茅tant les co没ts de structuration et de couverture. Remise de souscription : 10 $ par note.
  • Dates cl茅s : Strike 09 juil. 2025 ; n茅gociation 10 juil. 2025 ; calendrier mensuel d鈥櫭﹙aluation et de coupon fourni ; 茅valuation finale le 10 juil. 2026.
  • Points de risque : perte potentielle totale ou partielle du capital ; non-paiement des coupons si la barri猫re est franchie ; pas de participation 脿 la hausse de MSFT ; forte sensibilit茅 脿 la volatilit茅 ; risque de cr茅dit ; traitement fiscal complexe ; pas d鈥檃ssurance FDIC.

Investisseurs cibles sont ceux qui (1) recherchent un revenu conditionnel am茅lior茅, (2) sont 脿 l鈥檃ise avec le risque actions MSFT, (3) peuvent tol茅rer la perte de capital et l鈥檌lliquidit茅, et (4) comprennent les produits structur茅s.

Citigroup Global Markets Holdings Inc., vollst盲ndig garantiert von Citigroup Inc., bietet Airbag Autocallable Contingent Yield Notes mit Memory Coupon Funktion an, die an die Stammaktie von Microsoft Corporation (MSFT) gekoppelt sind.

  • Emissionsstruktur: Mindestnennwert $10.000; einj盲hriger fester Laufzeit (Abwicklung 14. Juli 2025, F盲lligkeit 14. Juli 2026), sofern nicht bereits zum ersten monatlichen Bewertungstag (11. August 2025) automatisch zur眉ckgerufen.
  • Kontingenter Kupon: 14,30% p.a. (ca. 1,1917% monatlich). Wird nur gezahlt, wenn der Schlusskurs von MSFT am jeweiligen Bewertungstag 鈮� Kupon-Schwelle (90% des Anfangspreises = $453,16) ist. Die Memory-Funktion sammelt nicht gezahlte Kupons f眉r sp盲tere Zahlungen an, wenn die Schwelle sp盲ter erreicht wird.
  • Automatischer R眉ckruf: Die Notes werden zum Nennwert plus anfallende Kupons (einschlie脽lich Memory-Kupons) zur眉ckgezahlt, wenn MSFT an einem monatlichen Bewertungstag 鈮� Anfangspreis ($503,51) schlie脽t.
  • Kapitalrisiko: Wenn nicht zur眉ckgerufen und der Schlusskurs 鈮� Wandlungspreis ($453,16), erhalten Anleger Nennwert plus Kupon(s). Liegt der Schlusskurs < Wandlungspreis, erhalten Anleger Anzahl der Aktien (22,06726 MSFT-Aktien pro Note, anpassbar), wodurch sie dem vollen Marktrisiko unterhalb der 90%-Schwelle ausgesetzt sind; der Wert kann deutlich unter dem Nennwert liegen und potenziell null sein.
  • Kredit- und Liquidit盲tsrisiko: Unbesicherte, nicht nachrangige Verbindlichkeiten des Emittenten; Zahlungen h盲ngen von der Bonit盲t von Citigroup Global Markets Holdings Inc. und Citigroup Inc. ab. Die Notes sind nicht b枚rsennotiert; ein m枚glicher Sekund盲rmarkt wird ausschlie脽lich von CGMI auf Best-Effort-Basis betrieben.
  • Preisgestaltung und Geb眉hren: Ausgabepreis 100% vom Nennwert. Gesch盲tzter Wert am Handelstag ca. $9.865 pro $10.000 Note (1,35% unter Ausgabepreis), was Strukturierungs- und Absicherungskosten widerspiegelt. Underwriting-Discount: $10 pro Note.
  • Wichtige Termine: Strike 09. Juli 2025; Handel 10. Juli 2025; monatlicher Bewertungs- und Kuponplan liegt vor; endg眉ltige Bewertung 10. Juli 2026.
  • Risikohinweise: m枚gliches teilweises oder vollst盲ndiges Kapitalverlustrisiko; keine Kuponzahlung bei Unterschreitung der Barriere; keine Teilnahme an Kurssteigerungen von MSFT; hohe Volatilit盲tsempfindlichkeit; Kreditrisiko; komplexe steuerliche Behandlung; keine FDIC-Versicherung.

Zielinvestoren sind Anleger, die (1) ein erh枚htes bedingtes Einkommen suchen, (2) mit dem Aktienrisiko von MSFT vertraut sind, (3) Kapitalverluste und Illiquidit盲t tolerieren k枚nnen und (4) strukturierte Produkte verstehen.

false000094474500009447452025-07-102025-07-10

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 10, 2025

 

 

Civista Bancshares, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Ohio

001-36192

34-1558688

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

100 East Water Street

 

Sandusky, Ohio

 

44870

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (419) 625 - 4121

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common shares, no par value

 

CIVB

 

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Item 7.01 Regulation FD Disclosure.

On July 10, 2025, senior management of Civista Bancshares, Inc. (“Civista”) will meet with investors at 4:45PM to discuss the opportunistic follow-on offering and acquisition of The Farmers Savings Bank. Dial in number 404-975-4839, access code: 190090. A copy of the investor presentation is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information in this Current Report on Form 8-K is being furnished under Item 7.01 and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Civista Bancshares, Inc., is a $4.1 billion financial holding company headquartered in Sandusky, Ohio. Its primary subsidiary, Civista Bank, was founded in 1884 and provides full-service banking, commercial lending, mortgage, and wealth management services. Today, Civista Bank operates 42 locations across Ohio, Southeastern Indiana and Northern Kentucky. Civista Bank also offers commercial equipment leasing services for businesses nationwide through its Civista Leasing and Finance Division. Civista Bancshares’ common shares are traded on the NASDAQ Capital Market under the symbol “CIVB”. Learn more at www.civb.com.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibit 99.1 Investor Presentation of Civista Bancshares, Inc.

Exhibit 104 Cover Page Interactive File-the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

Civista Bancshares, Inc.

 

 

 

 

Date:

July 10, 2025

By:

/s/ Ian Whinnem

 

 

 

Ian Whinnem
Executive Vice President & Chief Financial Officer

 

Source:

FAQ

What is the contingent coupon rate on Citigroup鈥檚 MSFT-linked notes?

The notes offer a 14.30 % per-annum coupon, paid monthly if MSFT closes at or above $453.16 on the valuation date.

When can the Airbag Autocallable Notes be automatically called?

Starting 11-Aug-2025, the notes are called if MSFT鈥檚 closing price is 鈮� $503.51 (the initial price) on any monthly valuation date.

How much principal protection do investors have?

None. If the final MSFT price is below $453.16, holders receive 22.06726 MSFT shares per note, potentially resulting in substantial loss of principal.

Do investors receive Microsoft dividends during the term?

No. Dividends are forfeited; investors only receive contingent coupons if barrier conditions are met.

What is the estimated value versus the issue price?

Citigroup estimates the fair value at $9,865 per $10,000 note on the trade date, 1.35 % below the issue price.

Are the notes secured or insured by the FDIC?

No. They are unsecured, unsubordinated obligations of Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc., and are not FDIC-insured.

When do the notes mature if not called early?

Final valuation is 10-Jul-2026 and maturity payment is due 14-Jul-2026.
Stock CIVB logo
Civista Bancshar

NASDAQ:CIVB

CIVB Rankings

#5005 Ranked by Market Cap
#1160 Ranked by Dividends
#13 Top Loser

CIVB Latest News

Jul 10, 2025
Civista Bancshares, Inc. Announces Pricing of Public Offering鈥痮f Common Shares
Jul 10, 2025
Civista Bancshares, Inc. Announces Agreement to Acquire The Farmers Savings Bank; Launches Public Offering of Common Shares
Jun 27, 2025
Civista Bancshares, Inc. Announces Second Quarter 2025 Earnings Release Date
Apr 24, 2025
Civista Bancshares, Inc. Announces First-Quarter 2025 Financial Results of $0.66 per Common Share, up $0.25 per Common Share from First-Quarter 2024
Apr 16, 2025
CIVISTA BANCSHARES, INC. DECLARES SECOND QUARTER COMMON DIVIDEND

CIVB Latest SEC Filings

Jul 10, 2025
[FWP] Civista Bancshares, Inc. Free Writing Prospectus
Jul 10, 2025
[424B5] Civista Bancshares, Inc. Prospectus Supplement (Debt Securities)
Jun 27, 2025
[8-K] Civista Bancshares, Inc. Reports Material Event

CIVB Stock Data

384.56M
15.08M
2.72%
56.63%
0.93%
Banks - Regional
State Commercial Banks
United States
SANDUSKY