By William Gullotti
Buffalo, N.Y., April 27 – Citigroup Global Markets Holdings Inc. priced $2.7 million of 0% market-linked securities – autocallable with leveraged upside participation and fixed percentage buffered downside due April 6, 2026 linked to the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus a 20.6% call premium if the ETF closes at or above its initial level on April 5, 2024.
The payout at maturity will be par plus 150% of any ETF gain.
If the ETF falls by up to 20%, the payout will be par. Otherwise, investors will lose 1% for each 1% decline beyond 20%.
The notes are guaranteed by Citigroup Inc.
Wells Fargo Securities LLC and Citigroup Global Markets Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked securities – autocallable with leveraged upside participation and fixed percentage buffered downside
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| Underlying fund: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $2,696,000
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| Maturity: | April 6, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any ETF gain; if ETF falls by up to 20%, par; otherwise, lose 1% for each 1% decline beyond 20%
|
| Call: | Automatically at par plus a 20.6% call premium if the ETF closes at or above initial level on April 5, 2024
|
| Initial level: | $127.59
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| Buffer level: | $102.072; 80% of initial level
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| Pricing date: | March 31
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| Settlement date: | April 5
|
| Agents: | Wells Fargo Securities LLC and Citigroup Global Markets Inc.
|
| Fees: | 2.575%
|
| Cusip: | 17331HDC7
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