By Wendy Van Sickle
Columbus, Ohio, Dec. 23 – Citigroup Global Markets Holdings Inc. priced $5 million of principal-at-risk securities due Dec. 10, 2024 linked to the 30-year Constant Maturity Swap rate and the two-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest will be paid monthly at an annualized rate of 10%.
At maturity, investors will receive par of $1,000 times the number of calendar days during the Dec. 10, 2023 to Dec. 10, 2024 observation period that the 30-year CMS rate is greater than or equal to the two-year constant CMS rate divided by the number of calendar days in that observation period.
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: | Principal-at-risk securities
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| Underlying rates: | 30-year Constant Maturity Swap rate and two-year Constant Maturity Swap CMS rate
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| Amount: | $5 million
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| Maturity: | Dec. 10, 2024
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| Coupon: | 10% per annum, payable monthly
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| Price: | Par
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| Payout at maturity: | Par of $1,000 times the proportion of calendar days during the Dec. 10, 2023 to Dec. 10, 2024 observation period that the 30-year CMS rate is greater than or equal to the two-year CMS rate
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| Pricing date: | Dec. 7
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| Settlement date: | Dec. 10
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 4%
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| Cusip: | 17329UUK5
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