Chicago, Sept. 25 – Citigroup Global Markets Holdings Inc. priced $980,000 of callable contingent coupon equity linked securities due Sept. 26, 2025 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.25% paid quarterly if the ETF closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par starting Dec. 19, 2022 and on any subsequent quarterly review date.
The payout at maturity will be par if the ETF ends at or above its 70% final barrier. Otherwise, investors will lose 1% for every 1% that the ETF declines, payable in 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: | Callable contingent coupon equity linked securities
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| Underlying ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $980,000
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| Maturity: | Sept. 26, 2025
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| Coupon: | 9.25% annual rate, paid quarterly if the ETF closes at or above its 70% coupon barrier on the related valuation date
|
| Price: | Par
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| Payout at maturity: | If ETF finishes at or above final barrier par; 1% loss for every 1% that ETF declines if it ends below final barrier
|
| Call: | At par starting Dec. 19, 2022 and on any subsequent quarterly review date
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| Initial level: | $385.56
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| Coupon barrier: | $269.892, 70% of initial level
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| Final barrier: | $269.892, 70% of initial level
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| Pricing date: | Sept. 19, 2022
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| Settlement date: | Sept. 26, 2022
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.9%
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| Cusip: | 17330KCD0
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