By William Gullotti
Buffalo, N.Y., Dec. 12 – Citigroup Global Markets Holdings Inc. priced $1.4 million of 0% autocallable contingent barrier notes due Dec. 20, 2024 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 its initial level on Dec. 18, 2023, the notes will be called at par plus a premium of 16.5%.
If index finishes at or above its initial level, the payout at maturity will be par plus 150% of the index return.
If the index declines up to the 75% barrier, investors will receive par. Otherwise, investors will lose 1% for each 1% decline of the index 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 index: | S&P 500 index
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| Amount: | $1.4 million
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| Maturity: | Dec. 20, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index finishes at or above its initial 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 initial level
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| Call: | If index closes at or above initial level on Dec. 18, 2023, at par plus a 16.5% call premium
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| Initial level: | Lowest closing level of the index on any trading day between Oct. 11 and Nov. 2, inclusive
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| Barrier level: | 75% of initial level
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| Strike date: | Oct. 11
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| Pricing date: | Oct. 17
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| Settlement date: | Oct. 20
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.58%
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| Cusip: | 17330Y2S8
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