Chicago, July 24 – Citigroup Global Markets Holdings Inc. priced $10 million of contingent income autocallable securities due July 23, 2024 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.2%, 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.
The securities will be called automatically starting Aug. 18 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the ETF declines by more than its 15% buffer in which case investors will lose 117.647% of the decline beyond the buffer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management is the structurer.
| 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 Biotech ETF
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| Amount: | $10 million
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| Maturity: | July 23, 2024
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| Coupon: | 15.2% annual rate, 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 declines by more than its buffer in which case investors will lose 117.647% of the decline beyond the buffer
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| Call: | Automatically starting Aug. 18 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial level: | $85.76
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| Buffer level: | $72.896, 85% of initial level
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| Buffer: | 15%
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| Downside leverage: | 117.647%
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| Pricing date: | July 18
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| Settlement date: | July 21
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| Agent: | Citigroup Global Markets Inc.
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| Structurer: | Morgan Stanley Wealth Management
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| Fees: | 0.1%
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| Cusip: | 17291RTW2
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