Chicago, June 2 – Citigroup Global Markets Holdings Inc. priced $10 million of contingent income autocallable securities due June 4, 2024 linked to the Invesco S&P 500 Equal Weight ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5%, paid monthly, if the underlying fund closes at or above its 87% downside threshold on the related monthly observation date. Previously unpaid coupons will also be paid.
The securities will be called automatically at par plus any coupon due if the ETF closes above its initial level on any monthly redemption date.
At maturity the payout will be par unless the ETF closes below its 87% buffer threshold level in which case investors will lose 1.14943% for each 1% decline of the ETF beyond the 13% buffer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management worked as structurer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying ETF: | Invesco S&P 500 Equal Weight ETF
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| Amount: | $10 million
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| Maturity: | June 4, 2024
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| Coupon: | 12.5% annual rate, paid monthly, if the underlying fund closes at or above its 87% downside threshold on the related monthly observation date; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | Par unless the ETF closes below its downside buffer level in which case investors will lose 1.14943% for each 1% decline beyond the 13% buffer
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| Call: | Automatically at par plus any coupon if ETF closes above initial level on any monthly redemption date
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| Initial level: | $141.09
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| Buffer level: | $122.748, 87% of initial level
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| Pricing date: | May 30
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| Settlement date: | June 2
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| Agent: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as structurer
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| Fees: | 0.1%
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| Cusip: | 17291RCL4
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