By Wendy Van Sickle
Columbus, Ohio, March 11 – Citigroup Global Markets Holdings Inc. priced $25 million of contingent income autocallable securities due March 10, 2023 linked to SPDR S&P 500 ETF Trust shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 13.2% if the ETF closes at or above the 90% downside threshold on the corresponding determination date.
The notes will be called at par plus the contingent coupon if the ETF closes at or above its initial level on any monthly determination date.
The payout at maturity will be par plus the final coupon unless the ETF finishes below its 85% downside threshold, in which case investors will receive 2.72224 ETF shares.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is a selected dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $25 million
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| Maturity: | March 10, 2023
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| Coupon: | 13.2% annualized, payable monthly if ETF closes at or above downside threshold level on the corresponding determination date
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| Price: | Par of $10
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| Payout at maturity: | If ETF finishes at or above downside threshold, par plus final coupon; otherwise, 2.72224 shares
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| Call: | At par plus contingent coupon if ETF closes at or above initial level on any monthly determination date
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| Initial share price: | $432.17
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| Downside threshold: | $367.345, 85% of initial level
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| Pricing date: | March 7
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| Settlement date: | March 10
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| Underwriter: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as dealer
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| Fees: | 0.2%
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| Cusip: | 17328N2R8
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