By Wendy Van Sickle
Columbus, Ohio, March 10 – Citigroup Global Markets Holdings Inc. priced $10 million of contingent income autocallable securities due March 14, 2024 linked to the Invesco QQQ Trust, Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.3%, paid quarterly, if the underlying fund closes at or above its downside threshold on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of the underlying fund is greater than or equal to its initial price on any quarterly determination date.
At maturity, the payout will be par unless the ETF finishes below its 85% downside threshold level, in which case investors will lose 1.1765% for every 1% decline of the ETF beyond 15%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management will handle distribution.
| 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 QQQ Trust, Series 1
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| Amount: | $10 million
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| Maturity: | March 14, 2024
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| Coupon: | 13.3%, paid quarterly, if the underlying fund closes at or above its downside threshold on the related quarterly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the ETF finishes below its downside threshold level, in which case investors will lose 1.1765% for every 1% decline of the ETF beyond 15%
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| Call: | Automatically at par if the price of the underlying ETF is greater than or equal to its initial price on any quarterly determination date
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| Initial level: | $299.68
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| Downside threshold: | $254.728, 85% of initial level
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| Pricing date: | March 3
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| Settlement date: | March 6
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| Agent: | Citigroup Global Markets Inc.
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| Distributor: | Morgan Stanley Wealth Management
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| Fees: | 0.1%
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| Cusip: | 17331CZ83
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