By William Gullotti
Buffalo, N.Y., July 14 – Citigroup Global Markets Holdings Inc. priced $4 million of 0% capped buffer in-gears due March 2, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If the index return is greater than or equal to 69%, the payout at maturity will be par plus 122.0693%.
If the index return is less than 69% but greater than or equal to 30%, the payout at maturity will be par plus 33.2% plus 2.2787 times the quantity of the return less 30%.
If the index gains less than 30% or declines by no more than 10%, the payout at maturity will be par plus 0.83 times the quantity of the return plus 10%.
Otherwise, investors will lose 1% for every 1% decline below 10%.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Capped buffer in-gears
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| Underlying index: | S&P 500 index
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| Amount: | $4 million
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| Maturity: | March 2, 2028
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index return is greater than 69%, par plus 122.0693%; if the index return is less than 69% but greater than 30%, par plus 33.2% plus 2.2787 times the quantity of the return minus 30%; if the index gains less than 30% or declines by no more than 10%, par plus 0.83 times the quantity of the return plus 10%; otherwise, lose 1% for every 1% decline below 10%
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| Initial level: | Average of index closing levels over three-month period from July 7 to and including Aug. 12
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| Final level: | Average of index closing levels over the three-month period from Nov. 29, 2027 to and including Feb. 28, 2028
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| Pricing date: | July 8
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| Settlement date: | July 13
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| Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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| Fees: | 0.25%
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| Cusip: | 17330N765
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