By Kiku Steinfeld
Chicago, July 11 – Citigroup Global Markets Holdings Inc. priced $1.01 million of 0% autocallable securities due Feb. 25, 2028 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 Feb. 21, 2024 with a premium of an 8.5% annual rate if the index closes at or above its initial value on any semiannual review date.
If the index gains, the payout at maturity will be par plus the premium for the final valuation date. Investors will receive par if the index but ends above the 90% final barrier and lose 1% for every 1% that the index declines if it finishes below its final barrier.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying index: | S&P 500 index
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| Amount: | $1,008,000
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| Maturity: | Feb. 25, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index finishes at or above its initial value, par plus premium for final valuation date; par if index declines but finishes at or above its 90% final barrier; otherwise 1% loss for every 1% that index declines
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| Call: | Automatically starting on Feb. 21, 2024 with a premium of an 8.5% annual rate if the index closes at or above its initial value on any semiannual review date
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| Initial level: | 3,997.34
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| Final barrier: | 3,597.606, 90% of initial level
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 24
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.1%
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| Cusip: | 17331CNP8
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