By Wendy Van Sickle
Columbus, Ohio, March 7 – Citigroup Global Markets Holdings Inc. priced $12.54 million of 0% autocallable trigger Performance Leveraged Upside Securities due March 4, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be redeemed at par plus 8.3% if the index closes above its initial level on March 7, 2023.
If the index finishes above its initial level, the payout at maturity will be par of $10 plus 125% of the index return.
If the index finishes at or below its initial level but at or above its downside threshold level, the payout will be par. The downside threshold level is 75% of the initial index level.
If the index finishes below its downside threshold level, investors will be fully exposed to the index’s decline from its initial level.
Citigroup Global Markets Inc. is the agent with Morgan Stanley & Co. LLC as distributor.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable trigger Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500
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| Amount: | $12,537,550
|
| Maturity: | March 4, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 1.25 times any index gain; par if index finishes flat or falls by up to downside threshold level; otherwise, 1% loss for each 1% decline in the index
|
| Call: | Par plus 8.3% if index is above initial level on March 7, 2023
|
| Initial index level: | 4,373.94
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| Downside threshold level: | 3,280.455, 75% of initial level
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| Pricing date: | Feb. 28
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| Settlement date: | March 3
|
| Agent: | Citigroup Global Markets Inc.
|
| Distributor: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 17330L173
|
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