By Wendy Van Sickle
Columbus, Ohio, May 30 – Citigroup Global Markets Holdings Inc. priced $10 million of contingent income autocallable securities due May 28, 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 12.5%, paid monthly, if the underlying fund closes at or above its 85% downside threshold on the related monthly observation date.
The securities will be called automatically if the ETF closes at or above its initial level on any monthly observation date.
At maturity the payout will be par unless the ETF closes below its 85% downside threshold level, in which case investors will lose 1.1765% for each 1% the decline of the ETF beyond 15%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management is a 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: | Invesco QQQ Trust, series 1
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| Amount: | $10 million
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| Maturity: | May 28, 2024
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| Coupon: | 12.5%, paid monthly, if the underlying fund closes at or above its 85% downside threshold on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the ETF closes below its downside threshold level, in which case 1.1765% for each 1% decline of ETF beyond 15%
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| Call: | Automatically if ETF closes at or above initial level on any monthly observation date
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| Initial level: | $336.51
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| Downside threshold: | $286.034, 85% of initial level
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| Strike date: | May 19
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| Pricing date: | May 22
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| Settlement date: | May 25
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| Agent: | Citigroup Global Markets Inc.
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| Selected dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.1% including a structuring fee of 0.05%
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| Cusip: | 17331HZN9
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