By William Gullotti
Buffalo, N.Y., March 28 – Citigroup Global Markets Holdings Inc. priced $3.16 million of 0% autocallable buffered notes due April 24, 2024 linked 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 automatically called at par plus a 10.95% call premium if the index closes at or above the initial index level on April 20, 2023.
If the notes are not called and the index return is zero or positive, the payout at maturity will be par plus 1.25 times the index return.
Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable buffered index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $3,155,000
|
| Maturity: | April 24, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is zero or positive, par plus 1.25 times the index return; par if index declines by 10% or less; 1.1111% loss for every 1% drop beyond 10%
|
| Call: | Automatically at par plus a 10.95% call premium if index closes at or above initial index level on April 20, 2023
|
| Initial level: | 4,511.61
|
| Buffer level: | 90% of initial level
|
| Pricing date: | March 22
|
| Settlement date: | March 29
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17330AP63
|
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