By Kiku Steinfeld
Chicago, Feb. 1 – 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 its initial level on Jan. 3, 2024, the notes will be called at par plus a premium of 14.75%.
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.
The initial level will be the closing level of the index on any trading day from and including Nov. 2, 2022 to and including Dec. 14, 2022.
Citigroup Global Markets Inc. is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA acting as the placement agent.
| 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 at or above its initial level, par plus the 150% of the index return; if the index declines no lower 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 Jan. 3, 2024, automatically at par plus a 14.75% call premium
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| Initial level: | Lowest closing level of the index on any trading day from and including Nov. 2, 2022 to and including Dec. 14, 2022
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| Barrier level: | 75% of initial level
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| Strike date: | Nov. 2, 2022
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| Pricing date: | Nov. 3, 2022
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| Settlement date: | Nov. 8, 2022
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| Underwriter: | Citigroup Global Markets Inc. with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agent
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| Fees: | 1.58%
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| Cusip: | 17330YQL7
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