By Angela McDaniels
Tacoma, Wash., Sept. 9 – Citigroup Global Markets Holdings Inc. priced $77.05 million of 1% equity-linked notes due Sept. 10, 2024 linked to the common stock of Schlumberger NV (Schlumberger Ltd.), according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be the greater of $1,000 and the alternative settlement amount.
The alternative settlement amount is (i) $1,000 multiplied by (ii) (a) the final share price divided by (b) the threshold price, which is 135.4% of the initial share price.
The initial share price, $34.5136, is a price of one Schlumberger share determined on the pricing date at the sole discretion of the calculation agent. It is not the closing price or the volume-weighted average price of the stock on the pricing date.
The final share price will be the volume-weighted average price of the stock on Sept. 5, 2024 multiplied by the share adjustment factor, which is initially one and is subject to adjustment upon the occurrence of certain events, including in connection with any ordinary dividend that is greater than or less than $0.50.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Equity-linked notes
|
| Underlying stock: | Schlumberger NV (Schlumberger Ltd.) (NYSE: SLB)
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| Amount: | $77.05 million
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| Maturity: | Sept. 10, 2024
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| Coupon: | 1%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Greater of $1,000 and alternative settlement amount, which is (i) $1,000 multiplied by (ii) (a) final share price divided by (b) threshold price
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| Initial share price: | $34.5136 (determined by calculation agent)
|
| Final share price: | Volume-weighted average price of stock on Sept. 5, 2024, subject to adjustment
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| Threshold price: | $46.7314, or 135.4% of initial share price
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| Pricing date: | Sept. 5
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| Settlement date: | Sept. 10
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17327TXT8
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