Chicago, Sept. 12 – Citigroup Global Markets Holdings Inc. priced $1.07 million of autocallable contingent coupon equity-linked securities due Dec. 4, 2024 linked to the worst performing of the Invesco QQQ Trust, Series 1 and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.9% paid monthly if the worst performing ETF closes at or above its 80% coupon barrier on the related valuation date.
The securities will be called automatically at par starting Feb. 28, 2024 if the price of the worst performing ETF is greater than or equal to its initial price and on any subsequent monthly valuation date.
If the worst performing ETF finishes at or above its 80% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing ETF declines, payable in shares or cash at the issuer’s option.
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 ETFs: | Invesco QQQ Trust, Series 1 and SPDR S&P 500 ETF Trust
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| Amount: | $1,074,000
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| Maturity: | Dec. 4, 2024
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| Coupon: | 6.9% annual rate, paid monthly if the worst performing ETF closes at or above its 80% coupon barrier on the related valuation date
|
| Price: | Par
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| Payout at maturity: | If worst performing ETF finishes at or above final barrier par; 1% loss for every 1% that worst performing ETF declines if it ends below final barrier, payable in cash or shares at issuer’s option
|
| Call: | Automatically at par starting Feb. 28, 2024 if the price of the worst performing ETF is greater than or equal to its initial price and on any subsequent monthly valuation date
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| Initial levels: | $366.76 for QQQ, $442.76 for S&P ETF
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| Coupon barriers: | $293.408 for QQQ, $354.208 for S&P ETF, 80% of initial levels
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| Final barriers: | $293.408 for QQQ, $354.208 for S&P ETF, 80% of initial levels
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| Equity ratios: | 2.72658 for QQQ, 2.25856 for S&P ETF
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.25%
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| Cusip: | 17331AKK6
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