Chicago, Feb. 29 – Citigroup Global Markets Holdings Inc. priced $1.28 million of autocallable contingent coupon equity-linked securities due Feb. 9, 2026 linked to the worst performing of the iShares Semiconductor ETF and SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5% paid quarterly if the worst performing ETF closes at or above its 60% coupon barrier on the related valuation date. Previously unpaid coupons will also be paid.
The securities will be called automatically at par starting May 2, 2024 if the price of the worst performing ETF is greater than or equal to its initial price and on any subsequent quarterly valuation date.
If the worst performing ETF finishes at or above its 60% 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 in shares 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: | iShares Semiconductor ETF and SPDR S&P Biotech ETF
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| Amount: | $1,280,000
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| Maturity: | Feb. 9, 2026
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| Coupon: | 12.5% annual rate, paid quarterly if the worst performing ETF closes at or above its 60% coupon barrier on the related valuation date; previously unpaid coupons will also be paid
|
| 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, payable in cash or shares at issuer’s option
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| Call: | Automatically starting May 2, 2024 if the price of the worst performing ETF is greater than or equal to its initial price and on any subsequent quarterly valuation date
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| Initial levels: | $588.95 for semiconductor, $88.97 for biotech
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| Coupon barriers: | $353.37 for semiconductor, $53.382 for biotech, 60% of initial levels
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| Final barriers: | $353.37 for semiconductor, $53.382 for biotech, 60% of initial levels
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| Equity ratios: | 1.69794 for semiconductor, 11.23974 for biotech
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| Strike date: | Feb. 1
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 9
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.3%
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| Cusip: | 17331ALB5
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