New Issue: Citigroup prices $2.25 million contingent fixed return notes linked to Target

By Angela McDaniels

Tacoma, Wash., April 18 – Citigroup Global Markets Holdings Inc. priced $2.25 million of 0% market linked securities – contingent fixed return and contingent downside due July 29, 2024 linked to the common stock of Target Corp., according to a 424B2 filing with the Securities and Exchange Commission.

If the final share price is greater than or equal to the threshold level, the payout at maturity will be par plus 10.5%. If the final share price is less than the threshold level, investors will be exposed to the stock’s decline from its initial share price.

The notes are guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the lead agent, and Wells Fargo Securities LLC is agent.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Market linked securities – contingent fixed return and contingent downside
Underlying stock:	Target Corp.
Amount:	$2,249,000
Maturity:	July 29, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If final share price is greater than or equal to threshold level, par plus 10.5%; otherwise, 1% loss for every 1% that stock declines from initial share price
Initial share price:	$130.01
Threshold level:	$91.007, or 70% of initial share price
Pricing date:	July 17, 2023
Settlement date:	July 20, 2023
Agents:	Citigroup Global Markets Inc. and Wells Fargo Securities LLC
Fees:	2.49%
Cusip:	17291RSD5

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