New York, March 21 – Citigroup Global Markets Holdings Inc. priced $1.1 million of 0% autocallable securities due March 17, 2028 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on March 14, 2024 with a premium of an 11.5% annual rate if the ETF closes above its initial value on any quarterly review date.
If the ETF gains the payout at maturity will be par plus the premium for the final valuation date. Investors will receive par if the ETF but ends above the 70% barrier and lose 1% for every 1% that the ETF declines if it finishes below its barrier.
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 ETF: | SPDR S&P Biotech ETF
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| Amount: | $1.1 million
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| Maturity: | March 17, 2028
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| Coupon: | 0%
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| Price: | Par of $10,000
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| Payout at maturity: | If ETF finishes at or above its initial value, par plus premium for final valuation date; par if ETF declines but finishes at or above its 70% barrier; otherwise, 1% loss for every 1% that ETF declines
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| Call: | Automatically starting on March 14, 2024 with 11.5% annualized premium if the ETF closes above its initial value on any quarterly review date
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| Initial level: | $79.03
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| Final barrier: | $55.321, 70% of initial level
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| Pricing date: | March 14
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| Settlement date: | March 17
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17331ABQ3
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