Chicago, Feb. 23 – Citigroup Global Markets Holdings Inc. priced $275,000 of 0% bearish autocallable securities due Jan. 22, 2025 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 a call premium of 12.75% if the index closes at or below its initial level on any trading day starting April 16, 2024. The call premium will be multiplied by the number of elapsed days since the notes were issued by the total days in the life of the notes.
If the notes are not called and the final level of the index is less than or equal to its initial level, the payout at maturity will be par plus the full 12.75%.
If the index gains up to 15%, the payout will be par.
Otherwise, investors will lose 1% for every 1% increase of the index from its initial level.
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: | Bearish autocallable securities
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| Underlying index: | S&P 500 index
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| Amount: | $275,000
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| Maturity: | Jan. 22, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and the final level of the index is less than or equal to initial level, par plus 12.75%; if the index gains up to trigger level, par; otherwise, investors will lose 1% for every 1% increase of the index from its initial level
|
| Call: | Automatically at par plus 12.75% annualized premium if the index closes at or below initial level on any trading day starting April 16, 2024; call premium will be multiplied by the number of elapsed days since the notes were issued by the total days in the life of the notes
|
| Initial level: | 4,765.98
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| Trigger level: | 5,480.877; 115% of initial level
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| Pricing date: | Jan. 16
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| Settlement date: | Jan. 19
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.25%
|
| Cusip: | 17291TNK0
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