By Wendy Van Sickle
Columbus, Ohio, Feb. 12 – Citigroup Global Markets Holdings Inc. priced $20.06 million of contingent income callable securities due Aug. 7, 2026 linked to the worst performing of the iShares MSCI EAFE ETF,, the SPDR S&P 500 ETF trust and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at an annual rate of 8.26% if each ETF closes at or above its coupon barrier level, 70% of its initial ETF level, on every day that quarter.
The notes are callable at par on any quarterly contingent coupon payment date.
If each ETF finishes at or above its downside threshold level, 60% of its initial level, the payout at maturity will be par plus the final contingent coupon.
If the final level of any ETF is less than its downside threshold level, investors will be fully exposed to the decline of the least-performing ETF.
Citigroup Global Markets Inc. is the underwriter with Morgan Stanley Wealth Management as dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income callable securities
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| Underlying ETFs: | iShares MSCI EAFE ETF, iShares Russell 2000 ETF, SPDR S&P 500 ETF trust
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| Amount: | $20.06 million
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| Maturity: | Aug. 7, 2026
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| Coupon: | 8.26% per year, payable for each quarter that each ETF closes at or above coupon barrier on every day that quarter
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| Price: | Par
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| Payout at maturity: | If each ETF finishes at or above downside threshold, par plus final contingent coupon; if final level of any ETF is less than downside threshold level, full exposure to decline of lowest-performing ETF
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| Call option: | At par on any quarterly contingent coupon payment date
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| Initial levels: | $386.19 for S&P, $218.62 for Russell, $74.25 for EAFE
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| Coupon barriers: | $270.333 for S&P, $153.034 for Russell, $51.975 for EAFE; 70% of initial levels
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| Downside thresholds: | $231.714 for S&P, $131.172 for Russell, $44.55 for EAFE; 60% of initial levels
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| Pricing date: | Feb. 4
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| Settlement date: | Feb. 9
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| Underwriter: | Citigroup Global Markets Inc.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 17328YLF9
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