By Kiku Steinfeld
Chicago, April 5 – Citigroup Global Markets Holdings Inc. priced March 15, 2024 of autocallable contingent coupon equity-linked securities due March 15, 2024 linked to the least performing of the Invesco S&P 500 Equal Weight ETF and the Materials Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 6.65% per year if the least-performing ETF closes at or above its coupon barrier value, 70% of its initial share price, on the valuation date for that quarter.
The notes will be automatically called at par if the least-performing ETF closes at or above its initial price on any quarterly valuation date after six months.
The payout at maturity will be par unless the least-performing ETF finishes below its final barrier value, 70% of its initial share price, in which case investors will we fully exposed to the decline of the least-performing ETF.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying ETFs: | Invesco S&P 500 Equal Weight ETF and Materials Select Sector SPDR fund
|
| Amount: | $935,000
|
| Maturity: | March 15, 2024
|
| Coupon: | 6.65% per year, payable quarterly if least-performing ETF closes at or above coupon barrier value on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless least-performing ETF finishes below final barrier value, in which case full exposure to decline of least performer
|
| Call: | Automatically at par if the least-performing ETF closes at or above its initial price on any quarterly valuation date after six months
|
| Initial share prices: | $141.60 for Invesco, $78.69 for SPDR
|
| Coupon barriers: | $99.120 for Invesco, $55.083 for SPDR, or 70% of initial share prices
|
| Final barrier values: | $99.120 for Invesco, $55.083 for SPDR, or 70% of initial share prices
|
| Pricing date: | March 12
|
| Settlement date: | March 17
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17328YZT4
|
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