By William Gullotti
Buffalo, N.Y., Dec. 23 – Citigroup Global Markets Holdings Inc. priced $2.12 million of 0% autocallable contingent buffered notes due Dec. 19, 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 90% call level on Dec. 29, 2023, the notes will be called at par plus a premium of 10.85%.
If index finishes at or above its initial level, the payout at maturity will the greater of par plus the index return and par plus 21.7%.
If the index declines up to the 80% buffer, investors will receive par. Otherwise, investors will lose 1.25% for each 1% decline of the index beyond 20%.
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 buffered notes
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| Underlying index: | S&P 500 index
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| Amount: | $2.12 million
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| Maturity: | Dec. 19, 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, the greater of par plus 21.7% and par plus the index return; if the index declines no farther than buffer level, par; otherwise, investors will lose 1.25% for each 1% decline beyond 20%
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| Call: | If index closes at or above call level on Dec. 29, 2023, at par plus a 10.85% call premium
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| Initial level: | 3,852.36
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| Call level: | 3,467.124; 90% of initial level
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| Buffer level: | 3,081.888; 80% 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.
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| Fees: | 1.5%
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| Cusip: | 17330YUP3
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