By William Gullotti
Buffalo, N.Y., Oct. 28 – Citigroup Global Markets Holdings Inc. priced $5.49 million of 0% barrier absolute return market-linked notes (with daily barrier observation and conditional return for barrier event) due Dec. 22, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
A barrier event will occur if the index closes above the upper barrier, 123.5% of the initial level, or below the lower barrier, 76.5% of the initial level, during the life of the notes.
If a barrier event occurs, the payout at maturity will be par plus 1%.
If no barrier event occurs, the payout will be par plus the absolute value of the index return.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Barrier absolute return market-linked notes (with daily barrier observation and conditional return for barrier event)
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Underlying index: | S&P 500 index
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Amount: | $5,489,000
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Maturity: | Dec. 22, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index closes above the upper barrier or below the lower barrier on any trading day during the life of the notes (a barrier event), par plus 1%; if index does not close above the upper barrier or below the lower barrier during the life of the notes, par plus the absolute value of the index return
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Initial level: | 3,899.89
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Upper barrier: | 4,816.36, 123.5% of initial level
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Lower barrier: | 2,983.42, 76.5% of initial level
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Pricing date: | Sept. 19
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Settlement date: | Sept. 22
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Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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Fees: | 1.5%
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Cusip: | 17330RX42
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