By Kiku Steinfeld
Chicago, Oct. 4 – Citigroup Global Markets Holdings Inc. priced $650,000 of 0% autocallable securities due March 24, 2028 linked to the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on March 21, 2024 with a premium of a 9.15% annual rate if the ETF closes above its initial value on a semiannual review date.
If the ETF gains the payout at maturity will be par plus the 45.75% premium for the final valuation date. Investors will receive par if the ETF but ends above the 70% barrier and lose 1% for every 1% that the ETF declines if it finishes below its 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 ETF: | Financial Select Sector SPDR Fund
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| Amount: | $650,000
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| Maturity: | March 24, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF finishes at or above its initial value, par plus 45.75%; par if ETF declines but finishes at or above its 70% barrier; otherwise 1% loss for every 1% that ETF declines
|
| Call: | Automatically starting on March 21, 2024 with a premium of a 9.15% annual rate if the ETF closes above its initial value on a semiannual review date
|
| Initial level: | $31.96
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| Final barrier: | $22.372, 70% of initial level
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| Pricing date: | March 21, 2023
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| Settlement date: | March 24, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
|
| Cusip: | 17331HE44
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