By William Gullotti
Buffalo, N.Y., Nov. 8 – Citigroup Global Markets Holdings Inc. priced $2.61 million of 0% autocallable securities due Oct. 30, 2025 linked to the common ETF of Invesco QQQ Trust, Series 1, according to a 424B8 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus an annualized 11.45% call premium if the ETF closes at or above its call value on any quarterly review date after one year. Call value starts at 100% of initial level and steps down by 2.5% for each subsequent valuation.
If the ETF finishes at or above 80% of initial level, the payout at maturity will be par plus 34.35%.
Investors will receive par if the ETF declines but finishes at or above the 70% barrier. Otherwise, investors will receive a number of shares equal to $1,000 divided by the ETF’s initial level or, at the issuer’s option, the cash value of those shares.
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 securities
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| Underlying fund: | Invesco QQQ Trust, Series 1
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| Amount: | $2,611,000
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| Maturity: | Oct. 30, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF finishes at or above 80% of its initial value, par plus 34.35%; par if ETF declines but finishes at or above its 70% barrier; otherwise, receive 3.59803 shares per security or, at the issuer’s option, the cash equivalent
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| Call: | Automatically at par plus an annualized 11.45% call premium if the ETF closes at or above its call value on any quarterly review date after one year; call value starts at 100% of initial level and steps down by 2.5% for each valuation date
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| Initial level: | $277.93
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| Final barrier: | $194.551, 70% of initial level
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17330DLH7
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