By Kiku Steinfeld
Chicago, Jan. 22 – Citigroup Global Markets Holdings Inc. priced $550,000 of 10.9% autocallable equity linked securities due June 5, 2026 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon at an annual rate of 10.9%.
The securities will be called automatically starting after six months if the price of the underlying stock is greater than or equal to its initial price on a quarterly valuation date.
The payout at maturity will be par if the stock ends at or above its 50% final barrier. Otherwise, investors will lose 1% for every 1% that the stock 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: | Autocallable equity linked securities
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| Underlying stock: | Halliburton Co.
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| Amount: | $550,000
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| Maturity: | June 5, 2026
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| Coupon: | 10.9% annual rate, payable monthly
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above final barrier, par; otherwise,1% loss for every 1% that stock declines if it ends below final barrier, payable in shares or cash at issuer’s option
|
| Call: | Automatically starting after six months if the price of the underlying stock is greater than or equal to its initial price on a quarterly valuation date
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| Initial level: | $31.64
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| Final barrier: | $15.82, 50% of initial level
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| Equity ratio: | 316.05563
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| Pricing date: | June 2, 2023
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| Settlement date: | June 7, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17331AEY3
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