By Wendy Van Sickle
Columbus, Ohio, June 21 – Citigroup Global Markets Holdings Inc. priced $1.07 million of 0% autocallable contingent barrier notes due June 13, 2024 tied to the iShares Expanded Tech-Software Sector ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If ETF closes at or above its initial level on June 23, 2023 the notes will be called at par plus a premium of 18.75%.
If ETF finishes at or above its initial level, the payout at maturity will be par plus the greater of 37.5% or the ETF return.
If the ETF declines up to the 80% barrier, investors will receive par. Otherwise, investors will lose 1% for each 1% decline of the ETF from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent barrier notes
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| Underlying fund: | iShares Expanded Tech-Software Sector ETF
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| Amount: | $1.07 million
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| Maturity: | June 13, 2024
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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 initial level, par plus greater of 37.5% and ETF return; if the ETF declines no farther than barrier level, par; otherwise, investors will lose 1% for each 1% decline from initial level
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| Call: | If ETF closes at or above initial level on June 23, 2023 at par plus 18.75% call premium
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| Initial level: | $276.47
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| Barrier level: | $221.176 80% of initial level
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| Pricing date: | June 10
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| Settlement date: | June 15
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17330P4K2
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