By Kiku Steinfeld
Chicago, Dec. 2 – Citigroup Global Markets Holdings Inc. priced $1.55 million callable contingent coupon equity-linked securities due Aug. 19, 2024 tied to the U.S. Global Jets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a quarterly contingent coupon at an annualized rate of 8.5% if the ETF closes above 70% of its initial level on a relevant valuation date.
After six months, the notes will be callable at par plus the coupon on any quarterly valuation date other than the final one.
If the notes are not called, the payout at maturity will be par unless the ETF finishes below its 70% final barrier value, in which case investors will be exposed to all losses.
Otherwise, investors will be exposed to the ETF’s decline from its initial share price.
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: | Callable contingent coupon equity-linked securities
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| Underlying ETF: | U.S. Global Jets ETF
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| Amount: | $1.55 million
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| Maturity: | Aug. 19, 2024
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| Coupon: | 8.5% annual rate, payable quarterly if ETF finishes above coupon barrier on relevant valuation date
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| Price: | Par
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| Payout at maturity: | Par unless the ETF finishes below final barrier value, in which case full exposure to losses
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| Call option: | After six months, at par plus coupon on any quarterly valuation date other than final one
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| Initial level: | $23.50
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| Coupon barrier: | $16.45, 70% of initial level
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| Final barrier: | $16.45, 70% of initial level
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| Pricing date: | Aug. 11
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| Settlement date: | Aug. 18
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17329QCF5
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