Chicago, Aug. 1 – Citigroup Global Markets Holdings Inc. priced $974,000 of 0% autocallable securities due July 30, 2026 linked to the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on Jan. 25, 2024 with a premium of a 13.85% annual rate if the ETF closes above its initial value and on any subsequent quarterly review date.
If the ETF gains the payout at maturity will be par plus the 41.55% premium for the final valuation date. Investors will receive par if the ETF but ends above the 70% barrier and lose 1% for every 1% that the ETF declines if it finishes below its barrier.
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 securities
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| Underlying ETF: | SPDR S&P Regional Banking ETF
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| Amount: | $974,000
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| Maturity: | July 30, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF finishes at or above its initial value, par plus 41.55% premium for final valuation date; par if ETF declines but finishes at or above its 70% barrier; otherwise, 1% loss for every 1% that ETF declines
|
| Call: | Automatically starting on Jan. 25, 2024 with a premium of a 13.85% annual rate if the ETF closes above its initial value and on any subsequent quarterly review date
|
| Initial level: | $46.65
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| Final barrier: | $32.655, 70% of initial level
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| Pricing date: | July 25
|
| Settlement date: | July 28
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3%
|
| Cusip: | 17291RTN2
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