New York, Nov. 29 – Citigroup Global Markets Holdings Inc. priced $10 million of contingent income autocallable securities due Dec. 2, 2024 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17.3%, paid monthly, if the underlying fund closes at or above its 85% downside threshold on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of the underlying ETF is greater than or equal to its initial price on any monthly determination date.
At maturity, the payout will be par unless the ETF declines by more than 15%, in which case investors will lose 1.17647% for each 1% that the ETF declines beyond 15%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management is the dealer.
| 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: | SPDR S&P Biotech ETF
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| Amount: | $10 million
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| Maturity: | Dec. 2, 2024
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| Coupon: | 17.3%, paid monthly, if the underlying fund closes at or above its 85% downside threshold on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the ETF declines by more than 15%, in which case investors will lose 1.17647% for each 1% that the ETF declines beyond 15%
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| Call: | Automatically at par if the closing price of the underlying ETF is greater than or equal to its initial price on any monthly determination date
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| Initial level: | $72.80
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| Downside threshold: | $61.88; 85% of initial level
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| Buffer: | 15%
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| Downside leverage: | 117.647%
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| Strike date: | Nov. 22
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| Pricing date: | Nov. 24
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| Settlement date: | Nov. 29
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| Agent: | Citigroup Global Markets Inc.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.1% including a structuring fee of 0.05%
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| Cusip: | 17291TJV1
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