By William Gullotti
Buffalo, N.Y., April 14 – Citigroup Global Markets Holdings Inc. priced $2.97 million of 0% autocallable contingent barrier notes due April 11, 2024 tied to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If ETF closes at or above its initial level on April 21, 2023, the notes will be called at par plus a premium of 16.95%.
If ETF finishes at or above 133.9% of its initial level, the payout at maturity will be par plus 33.9% plus 1.5 times the ETF’s gain above 33.9%.
If the ETF finishes flat or gains up to 33.9%, investors will receive par plus 33.9%.
If the ETF declines up to the 70% barrier, investors will receive par. Otherwise, investors will lose 1% for each 1% decline of the ETF from its initial level.
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: | Autocallable contingent barrier notes
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| Underlying fund: | SPDR S&P Biotech ETF
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| Amount: | $2.97 million
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| Maturity: | April 11, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF finishes at or above 133.9% of initial level, par plus 33.9% plus 1.5 times the ETF gain above 33.9%; if the ETF finishes flat or gains up to 33.9%, par plus 33.9%; if the ETF declines no farther than barrier level, par; otherwise, investors will lose 1% for each 1% decline from initial level
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| Call: | If ETF closes at or above initial level on April 21, 2023, at par plus a 16.95% call premium
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| Initial level: | $90.34
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| Barrier level: | $63.238; 70% of initial level
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| Pricing date: | April 8
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| Settlement date: | April 13
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.5%
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| Cusip: | 17330F6V8
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