By Wendy Van Sickle
Columbus, Ohio, Sept. 4 – Citigroup Global Markets Holdings Inc. priced $635,000 of autocallable contingent coupon equity-linked securities due Sept. 2, 2026 linked to the lesser performing of the SPDR Dow Jones Industrial Average ETF trust and the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 6.25% per year if the lesser-performing ETF closes at or above its coupon barrier value, 77.5% of its initial share price, on the observation date for that month.
The notes will be automatically called at par if the lesser-performing ETF closes at or above its initial share price on any quarterly call observation date after six months.
The payout at maturity will be par unless any ETF finishes below its 55% buffer value, in which case investors will be exposed to the loss of the worst-performing ETF beyond the buffer.
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: | SPDR Dow Jones Industrial Average ETF trust and SPDR S&P 500 ETF trust
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Amount: | $635,000
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Maturity: | Sept. 2, 2026
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Coupon: | 6.25% per year, payable monthly if lesser-performing ETF closes at or above coupon barrier value on valuation date for that month
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Price: | Par
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Payout at maturity: | Par unless lesser-performing ETF finishes below buffer level, in which case exposure to lesser-performing ETF’s loss beyond buffer
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Call: | Automatically at par if lesser-performing ETF closes at or above initial share price on any quarterly call observation date after six months
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Initial share prices: | $286.70 for Dow ETF, $350.58 for S&P ETF
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Coupon barriers: | $222.193 for Dow ETF, $271.70 for S&P ETF, 77.5% of initial levels
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Buffer levels: | $157.685 for Dow ETF, $192.819 for S&P ETF, 55% of initial levels
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Pricing date: | Aug. 28
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Settlement date: | Sept. 2
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17328WJM1
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