By William Gullotti
Buffalo, N.Y., July 1 – Citigroup Global Markets Holdings Inc. priced $1.13 million of 0% autocallable enhanced barrier notes due June 27, 2024 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will be automatically called at par plus an 11.85% call premium if the index closes at or above its initial level on July 7, 2023.
If the index finishes at or above 85% of its initial level, the payout at maturity will be the greater of par plus the index return and par plus 23.7%.
Otherwise, investors will lose 1% for every 1% decline from initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable enhanced barrier notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,129,000
|
| Maturity: | June 27, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above 85% of its initial level, the greater of par plus 23.7% and par plus the index return; otherwise, lose 1% for every 1% decline from initial level
|
| Call: | Automatically at par plus 11.85% premium if the index closes at or above its initial level on July 7, 2023
|
| Initial level: | 3,911.74
|
| Barrier level: | 3,324.979; 85% of initial levels
|
| Pricing date: | June 24
|
| Settlement date: | June 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17330PL56
|
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