New York, Dec. 14 – Citigroup Global Markets Holdings Inc. priced $10 million of 11.6016% autocallable phoenix securities due Dec. 13, 2024 linked to the common stock of Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a coupon of 11.6016% if the stock closes at or above its 80% coupon barrier on the related valuation date, plus any previously unpaid coupons.
They will be called automatically starting Jan. 8, 2024 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent monthly review date.
The payout at maturity will be par if the stock finishes at or above its 80% final barrier. If the stock ends below the final barrier investors will lose 125% of the decline beyond the 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 phoenix securities
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| Underlying stock: | Microsoft Corp.
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| Amount: | $10 million
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| Maturity: | Dec. 13, 2024
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| Coupon: | 11.6016% if the stock closes at or above its 80% coupon barrier on the related valuation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above final barrier par; if stock finishes below the final barrier investors lose 125% of decline beyond final barrier
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| Initial level: | $368.80
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| Final barrier: | $295.04, 80% of initial level
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| Coupon barrier: | $295.04, 80% of initial level
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| Downside leverage: | 125%
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| Call: | Automatically starting Jan. 8, 2024 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent monthly review date
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| Pricing date: | Dec. 7
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| Settlement date: | Dec. 12
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.1%
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| Cusip: | 17291T3Z9
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