By Wendy Van Sickle
Columbus, Ohio, Sept. 27 – Citigroup Global Markets Holdings Inc. priced $10 million of contingent income autocallable securities due Sept. 30, 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 12.9%, paid monthly, if the underlying fund closes at or above its 87% downside threshold on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the price of the underlying stock is greater than or equal to its initial price on any monthly determination date.
At maturity the payout will be par unless the ETF declines by more than its 13% buffer, in which case investors will lose 1.14943% for each 1% decline of the ETF beyond the buffer.
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: | Sept. 30, 2024
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| Coupon: | 12.9%, paid monthly, if the underlying fund closes at or above its 87% 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 1.14943% for each 1% decline of the ETF beyond the buffer
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| Call: | Automatically at par if the price of the underlying stock is greater than or equal to its initial price on any monthly determination date
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| Initial level: | $357.86
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| Buffer: | 13%
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| Downside leverage: | 117.647%
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| Downside threshold/buffer price: | $311.338, 87% of initial share price
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 27
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17291QD68
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