Chicago, May 4 – Citigroup Global Markets Holdings Inc. priced $2.79 million of 0% index-linked notes due April 29, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes are callable with a 9.2% annual premium if the index closes above its initial level on either May 2, 2024 or April 25, 2025.
If the notes are not called and the index finishes above its initial level, the payout at maturity will be the greater of par plus two times the return of the index or par plus 27.6%.
If the index declines but finishes at or above 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $2,792,000
|
| Maturity: | April 29, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus greater of two times index return or par plus 27.6% maturity date premium if index return is positive; par if index declines but not more than 30%; otherwise, full exposure to losses of worst performer
|
| Call: | At par plus 9.2% annual premium if index closes above initial level on either May 2, 2024 or April 25, 2025
|
| Initial index level: | 4,071.63
|
| Barrier level: | 70% of initial level
|
| Pricing date: | April 25
|
| Settlement date: | May 2
|
| Underwriters: | Citigroup Global Markets Inc.
|
| Fees: | 3%
|
| Cusip: | 17331HRP3
|
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