By Kiku Steinfeld
Chicago, Oct. 30 – Citigroup Global Markets Holdings Inc. priced $505,000 of 0% autocallable dual directional market-linked notes due April 3, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus a 6% call premium if the index closes at or above its initial level on April 1, 2024.
If the index’s final level is greater than its initial level, the payout at maturity will be par plus the index return, capped at par plus 14%.
If the index’s final level is less than or equal to its initial level but greater than or equal to its final barrier level, 90% of its initial level, the payout will be par plus the absolute value of the index’s return.
Otherwise, investors will receive par.
The notes are guaranteed by Citigroup Inc.
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: | Autocallable dual directional market-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $505,000
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| Maturity: | April 3, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the index’s final level is greater than or equal to initial level, par plus index return, capped at par plus 14%; if the index’s final level is less than initial level but greater than or equal to final barrier level, par plus absolute value of the index’s return; otherwise, par
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| Call: | Automatically at par plus 6% if index closes at or above initial level on April 1, 2024
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| Initial level: | 4,109.31
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| Final barrier level: | 90% of initial index level
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| Pricing date: | March 31, 2023
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| Settlement date: | April 5, 2023
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17331CWB9
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