By William Gullotti
Buffalo, N.Y., April 14 – Citigroup Global Markets Holdings Inc. priced $1 million of 0% geared autocallable buffer securities due April 11, 2025 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, 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 29.5% call premium if the ETF closes at or above its initial level on April 10, 2023.
If the ETF finishes above its initial value, the payout at maturity will be par plus 1.2 times the gain.
If the ETF finishes flat or falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1.25% for every 1% ETF decline beyond the 20% buffer.
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: | Geared autocallable buffer securities
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| Underlying fund: | SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1 million
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| Maturity: | April 11, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.2 times any ETF gain; par if the ETF finishes flat or falls by up to 20%; otherwise, 1.25% loss for every 1% ETF decline beyond the 20% buffer
|
| Call: | Automatically at par plus a 29.5% call premium if the ETF closes at or above its initial value on April 10, 2023
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| Initial value: | $139.89
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| Buffer value: | $111.912; 80% of initial value
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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: | None
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| Cusip: | 17330FB91
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