Chicago, April 25 – Citigroup Global Markets Holdings Inc. priced $309,000 of autocallable contingent coupon equity linked securities due Aug. 30, 2023 linked to the worst performing of the SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 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 Nov. 25, 2022 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 as shares of the worst performer 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: | SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF
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Amount: | $309,000
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Maturity: | Aug. 30, 2023
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Coupon: | 9% annual rate, paid monthly if the worst performing ETF closes at or above its 80% coupon barrier on the related valuation date
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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
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Call: | Automatically at par starting Nov. 25, 2022 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: | $397.37 for S&P 500 ETF, $178.73 for Russell ETF
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Coupon barriers: | $317.896 for S&P 500 ETF, $142.984 for Russell ETF, 80% of initial levels
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Final barriers: | $317.896 for S&P 500 ETF, $142.984 for Russell ETF, 80% of initial levels
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Equity ratios: | 2.51655 for S&P 500 ETF, 5.59503 for Russell ETF
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Pricing date: | May 25, 2022
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Settlement date: | May 31, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.25%
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Cusip: | 17330DCK0
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