By William Gullotti
Buffalo, N.Y., March 31 – Citigroup Global Markets Holdings Inc. priced $46.87 million of 0% autocallable buffered notes due June 27, 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 9% call premium if the index closes at or above the initial index level on April 17, 2023.
If the notes are not called and the index finishes at or above the 90% buffer level, the payout at maturity will be par plus a fixed return of 18%.
Otherwise, investors will lose 1.1111% for every 1% decline of the index beyond 10%.
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 buffered index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $46.87 million
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| Maturity: | June 27, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index finishes at or above buffer level, par plus 18%; otherwise, 1.1111% loss for every 1% drop beyond 10%
|
| Call: | Automatically at par plus a 9% call premium if index closes at or above initial index level on April 17, 2023
|
| Initial level: | 4,543.06
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| Buffer level: | 90% of initial level
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| Pricing date: | March 25
|
| Settlement date: | April 1
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17330AQV7
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