By Angela McDaniels
Tacoma, Wash., April 18 – Citigroup Global Markets Holdings Inc. priced $1.06 million of 0% market linked securities – autocallable with leveraged upside participation and fixed percentage buffered downside due Jan. 20, 2026 linked to the lesser performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 7.6% if the lesser performing index closes at or above its initial level on July 22, 2024.
If the notes are not called and the lesser performing index’s final level is greater than its initial level, the payout at maturity will be par plus 125% of the lesser performing index’s return.
If the lesser performing index’s final level is less than or equal to its initial level but greater than or equal to 80% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the lesser performing index declines beyond 20%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the lead agent, and Wells Fargo Securities LLC is agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Market linked securities – autocallable with leveraged upside participation and fixed percentage buffered downside
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| Underlying indexes: | S&P 500 index and Dow Jones industrial average
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| Amount: | $1,055,000
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| Maturity: | Jan. 20, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If lesser performing index’s final level is greater than initial level, par plus 125% of lesser performing index’s return; if lesser performing index’s final level is less than or equal to initial level but greater than or equal to 80% of initial level, par; otherwise, 1% loss for every 1% that lesser performing index declines beyond 20%
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| Call: | Automatically at par plus 7.6% if lesser performing index closes at or above initial level on July 22, 2024
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| Initial levels: | 4,522.79 for S&P and 34,585.53 for Dow
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| Buffer levels: | 3,618.232 for S&P and 27,668.28 for Dow, or 80% of initial levels
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| Pricing date: | July 17, 2023
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| Settlement date: | July 20, 2023
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| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities LLC
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| Fees: | 2.575%
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| Cusip: | 17291RPK2
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