By Kiku Steinfeld
Chicago, Oct. 11 – Citigroup Global Markets Holdings Inc. priced $600,000 of 10.6% autocallable equity linked securities due March 31, 2026 linked to the common stock of Charles Schwab Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The securities will be called automatically at par if the price of the underlying stock is greater than or equal to its initial price on any quarterly valuation date.
The payout at maturity will be par if the stock ends at or above its 60% final barrier. Otherwise investors will lose 1% for every 1% that the stock declines, payable in 18.90717 shares or cash at the option of the issuer.
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 equity linked securities
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| Underlying stock: | Charles Schwab Corp.
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| Amount: | $600,000
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| Maturity: | March 31, 2026
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| Coupon: | 10.6% payable quarterly
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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 18.90717 shares or cash at option of issuer
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| Call: | Automatically at par if the price of the underlying stock is greater than or equal to its initial price on any quarterly valuation date
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| Initial level: | $52.89
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| Final barrier: | $31.734, 60% of initial level
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| Pricing date: | March 24, 2023
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| Settlement date: | March 31, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17331ACP4
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