By Wendy Van Sickle
Columbus, Ohio, Oct. 5 – Citigroup Global Markets Holdings Inc. priced $708,000 of autocallable contingent coupon equity-linked securities due Sept. 30, 2025 linked to the least performing of the Energy Select Sector SPDR fund and SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 10% per year if the least-performing ETF closes at or above its coupon barrier value, 80% of its initial share price, on the valuation date for that month, plus any previously unpaid coupon.
The notes will be automatically called at par if the least-performing ETF closes at or above its initial price on any quarterly call valuation date after one year.
The payout at maturity will be par unless the least-performing ETF finishes below its buffer value, 80% of its initial share price, in which case investors will be exposed to the decline of the least-performing ETF beyond 20%.
The notes are guaranteed by Citigroup Inc.
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 ETFs: | Energy Select Sector SPDR fund and SPDR S&P Biotech ETF
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| Amount: | $708,000
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| Maturity: | Sept. 30, 2025
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| Coupon: | 10% per year, payable monthly if least-performing ETF closes at or above coupon barrier value on valuation date for that month, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par unless least-performing ETF finishes below buffer value, in which exposure to decline of lesser-performing ETF beyond 20%
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| Call: | Automatically at par if the least-performing ETF closes at or above its initial price on any quarterly call valuation date after one year
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| Initial share prices: | $30.18 for Energy, $110.81 for S&P Biotech
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| Coupon barriers: | $21.144 for Energy, $88.648 for S&P Biotech, or 80% of initial share prices
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| Barrier values: | $21.144 for Energy, $88.648 for S&P Biotech, or 80% of initial share prices
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17328WEK0
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