By Sarah Lizee
Olympia, Wash., Feb. 21 – Citigroup Global Markets Holdings Inc. priced $1.44 million of autocallable contingent coupon equity-linked securities due Feb. 23, 2024 linked to the least performing of the iShares Russell 2000 ETF and the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 7% if each ETF closes at or above its 70% coupon barrier on the valuation date for that period.
The notes will be called at par if each ETF closes at or above its initial level on any semiannual review date.
The payout at maturity will be par unless either ETF finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worse performing ETF.
The notes are guaranteed by Citigroup Global Markets Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Global Markets Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying ETFs: | iShares Russell 2000 ETF and SPDR S&P 500 ETF trust
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| Amount: | $1.44 million
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| Maturity: | Feb. 23, 2024
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| Coupon: | 7% annualized, payable semiannually if each ETF closes at or above 70% coupon barrier on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each ETF closes above 65% trigger, par; otherwise, 1% loss for each 1% decline of worse performing ETF
|
| Call: | At par plus contingent coupon if each ETF closes at or above initial level on any semiannual review date
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| Initial levels: | $153.77 for Russell ETF, $274.38 for S&P ETF
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| Coupon barriers: | $107.639 for Russell ETF, $192.066 for S&P ETF, 70% of initial levels
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| Trigger levels: | $99.951 for Russell ETF, $178.347 for S&P ETF, 65% of initial levels
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| Pricing date: | Feb. 15
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| Settlement date: | Feb. 25
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17324XLE8
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