Chicago, Aug. 16 – Citigroup Global Markets Holdings Inc. priced $550,000 of 0% autocallable securities due July 24, 2025 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on July 19, 2023 with a premium of a 13.2% annual rate if the stock closes above its initial value and on any subsequent annual review date.
If the stock gains the payout at maturity will be par plus the 39.6% premium for the final valuation date. Investors will receive par if the stock but ends above the 60% barrier and lose 1% for every 1% that the stock declines if it finishes below its barrier payable as 30.99814 shares or cash at the issuer’s option.
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 stock: | Bank of America Corp.
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| Amount: | $550,000
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| Maturity: | July 24, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above its initial value, par plus 39.6% premium for final valuation date; par if stock declines but finishes at or above its 60% barrier; otherwise, 1% loss for every 1% that stock declines payable as 30.99814 shares or cash at issuer’s option
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| Call: | Automatically starting on July 19, 2023 with a premium of a 13.2% annual rate if the stock closes above its initial value and on any subsequent annual review date
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| Initial level: | $32.26
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| Final barrier: | $19.356, 60% of initial level
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| Pricing date: | July 19, 2022
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| Settlement date: | July 22, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17330DGT7
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