By Kiku Steinfeld
Chicago, June 8 – Citigroup Global Markets Holdings Inc. priced $755,000 of autocallable contingent coupon equity-linked securities due May 12, 2026 linked to the worst performing of the ARK Innovation ETF and the Invesco Solar ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annual rate of 7.5% if each underlying fund closes at or above the coupon barrier level, 60% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each underlying fund closes at or above its initial level, on any monthly valuation date after one year.
If the notes are not called and each underlying fund finishes at or above its buffer level, 80% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the downside of the worst performer beyond 20%.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying funds: | ARK Innovation ETF and Invesco Solar ETF
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| Amount: | $755,000
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| Maturity: | May 12, 2026
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| Coupon: | 7.5% annualized rate, payable monthly if each underlying closes at or above its coupon barrier level, on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par if each underlying closes at or above its buffer level; otherwise, investors will be fully exposed to the downside of the worst performer beyond buffer level
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| Call: | Automatically at par plus coupon if each underlying closes at or above initial level on any monthly valuation date after one year
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| Initial levels: | $109.72 for ARK, $75.15 for Invesco
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| Coupon barrier levels: | $65.832 for ARK, $45.090 for Invesco; 80% of initial levels
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| Buffer levels: | $87.776 for ARK, $60.12 for Invesco; 80% of initial levels
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| Pricing date: | May 7
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| Settlement date: | May 12
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17329FE34
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