By Kiku Steinfeld
Chicago, Aug. 2 – Citigroup Global Markets Holdings Inc. priced $2.02 million 0% autocallable contingent barrier notes due July 20, 2023 linked to the SPDR S&P Bank ETF, 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 11.3% if the ETF closes above its initial level on July 29, 2022.
The payout at maturity will be par plus double any gain in the ETF.
If the ETF falls flat or declines by no more than 20%, the payout will be par.
Otherwise, investors will be full exposed to the decline of the ETF.
Citigroup Global Markets Inc. is the underwriter. JP Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent barrier notes
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| Underlying ETF: | SPDR S&P Bank ETF
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| Amount: | $2.02 million
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| Maturity: | July 20, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus double any gain; par if ETF falls flat or declines but not beyond barrier level; otherwise full exposure to losses of ETF
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| Call: | Automatically called at par plus 11.3% if the ETF closes above its initial level on July 29, 2022.
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| Initial level: | $48.90
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| Barrier level: | $39.12, 80% of initial level
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| Pricing date: | July 16
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| Settlement date: | July 21
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| Underwriter: | Citigroup Global Markets Inc.
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1.5%
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| Cusip: | 17329QDC1
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