By Kiku Steinfeld
Chicago, April 10 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% dual directional barrier securities with autocallable feature due Dec. 19, 2025 linked to the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes above initial level on Dec. 22, 2023, the notes will be called at par plus 14%.
If the index’s final level is greater than its initial level, the payout at maturity will be par plus the gain.
If the index’s final level is less than or equal to its initial level but greater than or equal to its final barrier level, 70% of its initial level, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to the decline of the index from its initial level.
The notes are guaranteed by Citigroup Inc.
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: | Dual directional barrier securities with autocallable feature
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| Underlying index: | Nasdaq-100
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| Amount: | $500,000
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| Maturity: | Dec. 19, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the index’s final level is greater than or equal to initial level, par plus the gain; if index’s final level is less than initial level but greater than or equal to final barrier level, par plus the absolute value of return; otherwise, 1% loss for every 1% that the index declines from initial level
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| Call: | At par plus 14% if index closes above initial level on Dec. 22, 2023
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| Initial level: | 11,243.72
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| Final barrier level: | 7,870.604; 70% of initial index 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: | 2%
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| Cusip: | 17330YWK2
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