New York, July 10 – Citigroup Global Markets Holdings Inc. priced $10 million of contingent income autocallable securities due Feb. 27, 2024 linked to the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.9%, paid monthly, if the underlying fund closes at or above its 85% downside threshold on the related monthly observation date, plus any previously unpaid coupons. Previously unpaid coupons will also be paid.
The securities will be called automatically if the price of the underlying stock is greater than or equal to its initial price and on any subsequent determination date.
At maturity the payout will be par unless the ETF closes below its 85% downside threshold level in which case investors will be fully exposed to the decline of the ETF.
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: | Contingent income autocallable securities
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| Underlying ETF: | Invesco QQQ Trust, Series 1
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| Amount: | $10 million
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| Maturity: | Feb. 27, 2024
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| Coupon: | 14.9%, paid monthly, if the underlying fund closes at or above its 85% downside threshold on the related monthly observation date, plus any previously unpaid coupons
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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 be fully exposed to the decline in the ETF
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| Call: | Automatically if the price of the underlying stock is greater than or equal to its initial price and on any subsequent determination date
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| Initial level: | $294.03
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| Downside threshold: | $249.926, 85% of initial level
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| Pricing date: | Feb. 22
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| Settlement date: | Feb. 27
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.1% including a structuring fee of 0.05%
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| Cusip: | 17331CT80
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