New Issue: Citigroup prices $759,000 autocallable securities linked to S&P 500

By Kiku Steinfeld

Chicago, May 2 – Citigroup Global Markets Holdings Inc. priced $759,000 of 0% autocallable securities due Dec. 31, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The securities will be called automatically starting on Dec. 29, 2023 with a premium of a 11.15% annual rate if the index closes at or above its initial value on any annual review date.

If the index gains of falls flat, the payout at maturity will be par plus 55.75%. Investors will receive par if the index falls but ends at or above the 80% buffer level. Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%.

The notes are guaranteed by Citigroup Inc.

Citigroup Global Markets Inc. is the agent.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Autocallable securities
Underlying index:	S&P 500 index
Amount:	$759,000
Maturity:	Dec. 31, 2027
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above its initial value, par plus 55.75%; par if index declines but finishes at or above its buffer level; otherwise, 1% loss for every 1% that index declines beyond buffer
Call:	Automatically starting on Dec. 29, 2023 with a premium of a 11.15% annual rate if the index closes at or above its initial value on any annual review date
Initial level:	3,783.22
Final buffer:	3,026.576, 80% of initial level
Pricing date:	Dec. 28, 2022
Settlement date:	Jan. 3, 2023
Agent:	Citigroup Global Markets Inc.
Fees:	1.125%
Cusip:	17330YVL1

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