New York, May 23 – Citigroup Global Markets Holdings Inc. priced $1.73 million of autocallable contingent coupon equity linked securities due Nov. 21, 2024 linked to the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.5%, paid monthly, if the ETF closes at or above its 60% coupon barrier on the related valuation date.
The securities will be called automatically at par if the closing level of the ETF is greater than or equal to its initial level on any monthly valuation date starting Nov. 22, 2023.
If the ETF finishes at or above its 60% final barrier, the payout at maturity will be par.
Otherwise, investors will receive a number of shares per security equal to $1,000 divided by the ETF’s initial level or, at the issuer’s option, the cash equivalent.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| 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 ETF: | SPDR S&P Regional Banking ETF
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| Amount: | $1,729,000
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| Maturity: | Nov. 21, 2024
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| Coupon: | 11.5%, paid monthly if the ETF closes at or above its 60% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If ETF finishes at or above final barrier, par; otherwise, receive 25.20161 shares per security or, at the issuer’s option, the cash equivalent
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| Call: | Automatically at par if the closing level of the ETF is greater than or equal to its initial level on any monthly valuation date starting Nov. 22, 2023
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| Initial level: | $39.68
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| Coupon barrier: | $23.808, 60% of initial level
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| Final barrier: | $23.808, 60% of initial level
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| Pricing date: | May 17
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| Settlement date: | May 22
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.4%
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| Cusip: | 17331AGA3
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