By Kiku Steinfeld
Chicago, March 27 – Citigroup Global Markets Holdings Inc. priced $500,000 of 11.3% autocallable equity linked securities due Dec. 6, 2023 linked to the common stock of Target Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
The securities will be called automatically at par starting June 1, 2023 if the price of the underlying stock is greater than or equal to its initial price and on any subsequent determination date.
The payout at maturity will be par if the stock ends at or above its 60% final barrier. Otherwise investors will lose 1% for every 1% that the stock declines, payable in shares or cash at the issuer’s option.
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 stock: | Target Corp.
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| Amount: | $500,000
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| Maturity: | Dec. 6, 2023
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| Coupon: | 11.3%, payable monthly
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| Price: | $10,000.00
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| Payout at maturity: | If stock finishes at or above final barrier par; 60.59504 shares or cash at the issuer’s option if it ends below final barrier
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| Call: | Automatically at par starting June 1, 2023 if the price of the underlying stock is greater than or equal to its initial price and on any subsequent determination date
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| Initial level: | $165.03
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| Final barrier: | $99.018, 60% of initial level
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| Pricing date: | Dec. 1
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| Settlement date: | Dec. 6
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17331ADX6
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