By William Gullotti
Buffalo, N.Y., Jan. 11 – Citigroup Global Markets Holdings Inc. priced $4.57 million of 0% trigger jump securities with autocallable feature due Oct. 4, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called automatically at par plus an 8.1% annualized call premium if the index closes at or above its initial level on any quarterly valuation date after one year.
If the index finishes at or above the initial level, the payout at maturity will be par plus 40.5%.
Investors will receive par if the index falls by up to 20% and will be fully exposed to index decline if the index falls by more than 20%.
Citigroup Global Markets Inc. is the agent, with Morgan Stanley Wealth Management as dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Trigger jump securities with autocallable feature
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| Underlying index: | S&P 500 index
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| Amount: | $4.57 million
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| Maturity: | Oct. 4, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index finishes flat or gains, par plus 40.5%; par if the index falls by up to 20%; otherwise, full exposure to index decline from initial level
|
| Call: | At par plus an 8.1% annualized call premium if the index closes at or above its initial level on any quarterly valuation date after one year
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| Initial level: | 4,288.05
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| Trigger level: | 3,430.44; 80% of initial level
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| Pricing date: | Sept. 29, 2023
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| Settlement date: | Oct. 4, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 2.36%
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| Cusip: | 17291QPD0
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