By Wendy Van Sickle
Columbus, Ohio, April 23 – Citigroup Global Markets Holdings Inc. priced $1.4 million of autocallable contingent coupon equity-linked securities due April 8, 2024 linked to the worst performing of the iShares Russell 2000 exchange-traded fund and the SPDR S&P 500 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent seminannually coupon at an annual rate of 6.25% if each asset closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that period.
The notes will be called at par on any semiannual call valuation date.
If the notes are not called, the payout at maturity will be par unless either asset closes below 65% of its initial price, in which case investors will be fully exposed to the decline of the least performing asset.
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 assets: | iShares Russell 2000 ETF and SPDR S&P 500 ETF
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| Amount: | $1.4 million
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| Maturity: | April 8, 2024
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| Coupon: | 6.25% annualized rate, payable seminannually if each asset closes at or above coupon barrier price on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless either asset closes below knock-in level, in which investors will be fully exposed to the decline of the least performing asset.
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| Call: | At par plus coupon if each asset closes at or above initial level on any semiannual call valuation date
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| Initial share price: | $396.33 for SPDR S&P 500, $220.94 for iShares Russell 2000
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| Coupon barrier levels: | $277.431 for SPDR S&P 500, $154.658 for iShares Russell 2000, 70% of initial levels
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| Knock-in levels: | $257.615 for SPDR S&P 500, $143.611 for iShares Russell 2000, 65% of initial levels
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| Pricing date: | April 1
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| Settlement date: | April 9
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17329F3C6
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