Chicago, May 12 – Citigroup Global Markets Holdings Inc. priced $520,000 of 0% autocallable contingent barrier notes due June 21, 2024 tied to the iShares Expanded Tech-Software Sector ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If the ETF closes at or above its initial level on June 30, 2023 the notes will be called at par plus a premium of 19.4%.
If ETF finishes at or above its initial level, the payout at maturity will be par plus the greater of the ETF return or par plus 38.8%.
If the ETF declines but not beyond the 80% barrier, investors will receive par. Otherwise, investors will lose 1% for each 1% decline of the ETF from its initial level.
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: | Autocallable contingent barrier notes
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| Underlying fund: | iShares Expanded Tech-Software Sector ETF
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| Amount: | $520,000
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| Maturity: | June 21, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF finishes at or above initial level, par plus greater of 38.8% or ETF return; if the ETF declines no farther than barrier level, par; otherwise, investors will lose 1% for each 1% decline from initial level
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| Call: | If ETF closes at or above initial level on June 30, 2023 at par plus 19.4% call premium
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| Initial level: | $262.30
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| Barrier level: | $209.84, 80% of initial level
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| Pricing date: | June 17, 2022
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| Settlement date: | June 23, 2022
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17330PLC1
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