By William Gullotti
Buffalo, N.Y., Dec. 22 – Citigroup Global Markets Holdings Inc. priced $4.65 million of 0% trigger Performance Leveraged Upside Securities with autocallable feature due Dec. 19, 2024 linked to the performance of the S&P 500 index, 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 14.15% call premium if the index closes at or above its initial level on Dec. 26, 2023.
If the notes are not called and the index finishes at or above its initial level, the payout at maturity will be par of $10 plus 125% of any gain.
If the index declines up to the 75% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to the index’s decline from its initial level.
Citigroup Global Markets Inc. is the underwriter with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Trigger Performance Leveraged Upside Securities with autocallable feature
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| Underlying index: | S&P 500 index
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| Amount: | $4,650,600
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| Maturity: | Dec. 19, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the index gains, par plus 125% of the return; if the index falls by up to trigger level, par; otherwise, 1% loss for every 1% decline from initial level
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| Call: | Automatically at par plus 14.15% call premium if the index closes at or above its initial level on Dec. 26, 2023
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| Initial level: | 3,852.36
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| Trigger level: | 2,889.27; 75% of initial level
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| Pricing date: | Dec. 16
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| Settlement date: | Dec. 21
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| Underwriter: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management handling distribution
|
| Fees: | 2.5%
|
| Cusip: | 17330X201
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