By William Gullotti
Buffalo, N.Y., Aug. 23 – Citigroup Global Markets Holdings Inc. priced $690,000 of 0% autocallable enhanced barrier notes due Aug. 1, 2024 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will be automatically called at par plus an 11.75% call premium if the index closes at or above its initial level on Aug. 11, 2023.
If the index finishes at or above 85% of its initial level, the payout at maturity will be the greater of par plus the index return and par plus 23.5%.
Otherwise, investors will lose 1% for every 1% decline from initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable enhanced barrier notes
|
| Underlying index: | S&P 500 index
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| Amount: | $690,000
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| Maturity: | Aug. 1, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the index finishes at or above 85% of its initial level, the greater of par plus 23.5% and par plus the index return; otherwise, lose 1% for every 1% decline from initial level
|
| Call: | Automatically at par plus 11.75% premium if the index closes at or above its initial level on Aug. 11, 2023
|
| Initial level: | 4,130.29
|
| Barrier level: | 3,510.747; 85% of initial levels
|
| Pricing date: | July 29
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| Settlement date: | Aug. 3
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17330PJZ3
|
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