By Wendy Van Sickle
Columbus, Ohio, Jan. 25 – Citigroup Global Markets Holdings Inc. priced $10 million of contingent income autocallable securities due Jan. 25, 2024 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 11.3%, payable monthly, if the ETF closes above its downside threshold, 85% of its initial level, on the related observation date.
The securities will be called automatically at par if the price of the underlying ETF is greater than or equal to its initial price on any monthly review date.
At maturity the payout will be par unless the ETF closes below its downside threshold level in which case investors will be fully lose 1.17647% for each 1% decline in the ETF beyond 15%.
Citigroup Inc. guarantees the notes.
Citigroup Global Markets Holdings Inc. is the underwriter. Morgan Stanley Wealth Management is a 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 indexes: | SPDR S&P 500 ETF Trust
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| Amount: | $10 million
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| Maturity: | Jan. 25, 2024
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| Coupon: | 11.3%, payable monthly if ETF closes above downside threshold on observation date
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| Price: | Par
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| Payout at maturity: | Par unless the ETF closes below its downside threshold level in which case investors will lose 1.17647% for each 1% decline in the ETF beyond 15%
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| Call: | At par if the price of the underlying ETF is greater than or equal to its initial price on any monthly review date
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| Initial level: | $388.64
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| Downside threshold: | $330.344, 85% of initial level
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| Strike date: | Jan. 19
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| Pricing date: | Jan. 20
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| Settlement date: | Jan. 25
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| Underwriter: | Citigroup Global Markets Holdings Inc.
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.2%
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| Cusip: | 17331CF36
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