By Wendy Van Sickle
Columbus, Ohio, June 10 – Citigroup Global Markets Holdings Inc. priced $10 million of contingent income autocallable securities due June 9, 2023 linked to SPDR S&P 500 ETF trust, shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11.4% if the ETF closes at or above the 65% downside threshold on the corresponding determination date.
The notes will be called at par plus the contingent coupon if the ETF closes at or above its initial level on any monthly determination date.
The payout at maturity will be par plus the final coupon unless the ETF finishes below its 85% downside threshold, in which case investors will receive 2.86567 ETF shares.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is a selected dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying ETF: | SPDR S&P 500 ETF trust
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| Amount: | $10 million
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| Maturity: | June 9, 2023
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| Coupon: | 11.4% annualized, payable monthly if ETF closes at or above downside threshold level on the corresponding determination date
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| Price: | Par of $10
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| Payout at maturity: | If ETF finishes at or above downside threshold, par plus final coupon; otherwise, 2.86567 ETF shares
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| Call: | At par plus contingent coupon if ETF closes at or above initial level on any monthly determination date
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| Initial share price: | $410.54
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| Downside threshold: | $348.959; 85% of initial level
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| Strike date: | June 3
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| Pricing date: | June 6
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| Settlement date: | June 9
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| Underwriter: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as dealer
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| Fees: | 0.2%
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| Cusip: | 17330DCZ7
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