By Emma Trincal
New York, Nov. 8 – Citigroup Global Markets Holdings Inc. priced $550,000 of 0% autocallable contingent barrier notes due Jan. 8, 2025 tied 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 index closes at or above the lookback index level on the potential autocall date, Jan. 3, 2024, the notes will be called at par plus a premium of 14.75%.
The lookback index level will be the lowest closing level of the index on any trading day from the strike date to Dec. 14 and will not be higher than the index’s closing level on the strike date.
If the index finishes above its lookback level, the payout at maturity will be par plus 150% of the index return.
If the index declines up to the 75% barrier from its lookback level, investors will receive par. Otherwise, investors will lose 1% for each 1% decline of the index from its lookback level.
Citigroup Global Markets Inc. is the underwriter. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| 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 index: | S&P 500 index
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| Amount: | $550,000
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| Maturity: | Jan. 8, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index finishes above its lookback level, par plus 150% of the index return; if the index declines no farther than barrier level, par; otherwise, investors will lose 1% for each 1% decline from lookback level
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| Call: | If index closes at or above lookback level on Jan. 3, 2024, at par plus a 14.75% call premium
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| Lookback level: | The lowest index closing level on any trading day from Nov. 2 to Dec. 14
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| Barrier level: | 75% of initial level
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| Strike date: | Nov. 2
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| Pricing date: | Nov. 3
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| Settlement date: | Nov. 8
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| Underwriter: | Citigroup Global Markets Inc.
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1.58%
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| Cusip: | 17330YQL7
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