By Kiku Steinfeld
Chicago, Dec. 11 – Citigroup Global Markets Holdings Inc. priced $900,000 of autocallable contingent coupon equity-linked securities due Oct. 24, 2024 linked to the performance of 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 pay a contingent monthly coupon at an annualized rate of 7.85% if the index closes at or above the coupon barrier level, 70% of the initial level, on the valuation date for that period. Previously unpaid coupons, if any, will be automatically included whenever a contingent payment is made.
The notes will be automatically called at par plus the contingent coupon if the index closes at or above the initial level on any monthly valuation date after six months.
If the notes are not called and the index finishes at or above the 70% final barrier, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying index: | S&P 500 index
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| Amount: | $900,000
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| Maturity: | Oct. 24, 2024
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| Coupon: | 7.85% annually, payable monthly if index closes at or above coupon barrier on the corresponding valuation date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and the index finishes at or above the final barrier, par; otherwise, full exposure to decline in the index from initial level
|
| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on any monthly valuation date after six months
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| Initial level: | 4,133.52
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| Coupon barrier: | 2,893.464; 70% of initial level
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| Final barrier: | 2,893.464; 70% of initial level
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| Pricing date: | April 21, 2023
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| Settlement date: | April 26, 2023
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.65%
|
| Cusip: | 17331HSD9
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