By Wendy Van Sickle
Columbus, Ohio, Feb. 8 – Citigroup Global Markets Holdings Inc. priced $264,000 of autocallable contingent coupon equity-linked securities due Jan. 29, 2024 linked to the least performing of the Alaska Air Group, Inc. and Southwest Airlines Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 12.5% per year if the least-performing ETF closes at or above its coupon barrier value, 60% of its initial share price, on the valuation date for that period, plus any previously unpaid coupon.
The notes will be automatically called at par plus the coupon if the least-performing ETF closes at or above its initial price on any quarterly autocall date after a year.
The payout at maturity will be par unless the least-performing ETF finishes below its final barrier value, 60% of its initial share price, in which case investors will be exposed to the decline of the least performing ETF.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
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: | Alaska Air Group, Inc. and Southwest Airlines Co.
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Amount: | $264,000
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Maturity: | Jan. 29, 2024
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Coupon: | 12.5% per year, payable each quarter if least-performing ETF closes at or above coupon barrier value on valuation date for that period, plus any previously unpaid coupon
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Price: | Par
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Payout at maturity: | Par unless least-performing ETF finishes below final barrier value, in which case investors will be exposed to the decline of the least performing ETF
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Call: | Automatically at par if least-performing ETF closes at or above initial share price on any quarterly valuation date after one year
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Initial share prices: | $54.96 for Alaska Air and $47.77 for Southwest
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Coupon barriers: | $28.662 for Alaska Air and $32.976 for Southwest; 60% of initial share prices
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Final barriers: | $28.662 for Alaska Air and $32.976 for Southwest; 60% of initial share prices
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Pricing date: | Jan. 22
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Settlement date: | Jan. 29
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2.5%
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Cusip: | 17328NCV8
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