By Kiku Steinfeld
Chicago, June 1 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% dual directional market-linked notes due Jan. 27, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
A knock-out event will occur if the index closes at or above 131% of initial level or at or below 69% of its initial level.
If a knock-out event has occurred, the payout at maturity will be par plus 31%.
If a knock-out event has not occurred, the payout at maturity will be par plus the absolute value of the index return.
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 market-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $500,000
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| Maturity: | Jan. 27, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If a knock-out event has occurred, par plus 31%; if a knock-out event has not occurred, par plus absolute value of the index return
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| Knock-out event: | If the index closes at or above upside knock-out level or at or below downside knock-out level
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| Initial level: | 4,016.95
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| Upside knock-out: | 131% of initial level
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| Downside knock-out: | 69% of initial level
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| Pricing date: | Jan. 24, 2023
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| Settlement date: | Jan. 27, 2023
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17331CDZ7
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