New York, July 12 – Citigroup Global Markets Holdings Inc. priced $3.86 million of autocallable contingent coupon equity linked securities due July 2, 2025 linked to the common stock of Cleveland-Cliffs Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14%, paid monthly, if the stock closes at or above its 50% coupon barrier on the related valuation date.
The securities will be called automatically at par if the closing level of the stock is greater than or equal to its initial level on any monthly valuation date starting Dec. 27, 2023.
If the stock finishes at or above its 50% final barrier, the payout at maturity will be par.
Otherwise, investors will receive a number of shares per security equal to $1,000 divided by the stock’s initial level or, at the issuer’s option, the cash equivalent.
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: | Cleveland-Cliffs Inc.
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| Amount: | $3,857,000
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| Maturity: | July 2, 2025
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| Coupon: | 14%, paid monthly if the stock closes at or above its 50% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above final barrier, par; otherwise, receive 60.45949 shares per security or, at the issuer’s option, the cash equivalent
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| Call: | Automatically at par if the closing level of the stock is greater than or equal to its initial level on any monthly valuation date starting Dec. 27, 2023
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| Initial level: | $16.54
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| Coupon barrier: | $8.27, 50% of initial level
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| Final barrier: | $8.27, 50% of initial level
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| Pricing date: | June 27
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| Settlement date: | June 30
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.95%
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| Cusip: | 17331AGL9
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