By Kiku Steinfeld
Chicago, Jan. 14 – Citigroup Global Markets Holdings Inc. priced $700,000 of callable contingent coupon equity-linked securities due Jan. 16, 2024 linked to the shares of the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 5.2% if the ETF closes at or above the coupon barrier price, 60% of the initial price, on the valuation date for that period.
The notes are callable at par plus the contingent coupon on any quarterly call valuation date.
If the notes are not called, the payout at maturity will be par unless the shares finish below the 60% barrier level, in which case investors will receive 3.17480 shares or the cash equivalent.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying ETF: | Invesco QQQ Trust, Series 1
|
| Amount: | $700,000
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| Maturity: | Jan. 16, 2024
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| Coupon: | 5.2% per year, payable quarterly if closing price of shares is greater than or equal to coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless shares finish below barrier level, in which case 3.17480 shares or cash equivalent
|
| Call: | At par plus contingent coupon on any quarterly call valuation date
|
| Initial share price: | $314.98
|
| Coupon barrier price: | $188.988, 60% of initial share price
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| Barrier level: | $188.988, 60% of initial share price
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 15
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17328NEM6
|
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