Chicago, April 24 – Citigroup Global Markets Holdings Inc. priced $750,000 of 0% geared autocallable buffer securities due May 30, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be automatically called at par plus a 10.75% call premium if the ETF closes at or above its initial level on May 24, 2023.
If the index finishes above its initial value, the payout at maturity will be par plus the gain.
If the index finishes flat or falls by up to 40%, the payout will be par.
Otherwise, investors will lose 1.666667% for every 1% of index decline beyond the 40% buffer.
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: | Geared autocallable buffer securities
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| Underlying index: | S&P 500 index
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| Amount: | $750,000
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| Maturity: | May 30, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any index gain; par if the index finishes flat or falls by up to 40%; otherwise, 1.666667% loss for every 1% the index declines beyond the 40% buffer
|
| Call: | Automatically at par plus a 10.75% call premium if the index closes at or above its initial value on May 24, 2023
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| Initial value: | 3,901.36
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| Buffer value: | 2,340.816; 60% of initial value
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| Strike date: | May 20, 2022
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| Pricing date: | May 24, 2022
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| Settlement date: | May 27, 2022
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.6%
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| Cusip: | 17330FP88
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