By Kiku Steinfeld
Chicago, March 10 – Citigroup Global Markets Holdings Inc. priced $824,000 autocallable equity linked securities due Nov. 30, 2023 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Coupons will be paid monthly at 8.1% per year.
The securities will be called automatically at par on May 24, 2023 or Aug. 25, 2023 if the level of the ETF is greater than or equal to its initial level.
The payout at maturity will be par if the ETF ends at or above its 70% final barrier. Otherwise investors will lose 1% for every 1% that the ETF declines, payable in shares or cash at the option of the issuer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable equity linked securities
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| Underlying ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $824,000
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| Maturity: | Nov. 30, 2023
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| Coupon: | 8.1% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | If ETF finishes at or above final barrier par; 1% loss for every 1% that ETF declines if it ends below final barrier, 2.48552 shares or cash at the option of the issuer
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| Call: | Automatically at par on May 24, 2023 or Aug. 25, 2023 if the level of the ETF is greater than or equal to its initial level
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| Initial level: | $402.33
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| Final barrier: | $281.631, 70% of initial level
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| Pricing date: | Nov. 28, 2022
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| Settlement date: | Nov. 30, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17330DKF2
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