By Kiku Steinfeld
Chicago, Feb. 26 – Citigroup Global Markets Holdings Inc. priced $250,000 of autocallable contingent coupon equity linked securities due July 5, 2024 linked to the common stock of Valero Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.65% paid quarterly if the stock closes at or above its 50% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically starting Sept. 27, 2023 if the level of the stock is greater than or equal to its initial level.
If the stock finishes at or above its 50% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the stock declines, with the payment made in cash or 8.85034 shares of stock at the issuer's option.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity linked securities
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| Underlying stock: | Valero Energy Corp.
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| Amount: | $250,000
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| Maturity: | July 5, 2024
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| Coupon: | 8.65% paid quarterly if the stock closes at or above its 50% coupon barrier on the related valuation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above final barrier par; 1% loss for every 1% that stock declines if it ends below final barrier, payable in 8.85034 shares or cash at the issuer’s option
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| Call: | Automatically starting Sept. 27, 2023 if the level of the stock is greater than or equal to its initial level on a quarterly valuation date
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| Initial level: | $112.99
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| Coupon barrier: | $56.495, 50% of initial level
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| Final barrier: | $56.495, 50% of initial level
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| Pricing date: | June 27, 2023
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| Settlement date: | June 30, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17331AEM9
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