By Kiku Steinfeld
Chicago, March 12 – Citigroup Global Markets Holdings Inc. priced $500,000 of callable contingent coupon equity linked securities due July 5, 2024 linked to the Financial Select Sector SPDR Fund and iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5% paid monthly if the worst performing ETF closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called starting Sept. 29, 2023 at par and on any subsequent monthly review date.
The payout at maturity will be par if the worst performing ETF ends at or above its 70% final barrier. Otherwise investors will lose 1% for every 1% that the worst performing ETF declines.
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: | Callable contingent coupon equity linked securities
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| Underlying ETFs: | Financial Select Sector SPDR Fund and iShares MSCI Emerging Markets ETF
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| Amount: | $500,000
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| Maturity: | July 5, 2024
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| Coupon: | 10.5% paid monthly if the worst performing ETF closes at or above its 70% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing ETF finishes at or above final barrier par; 1% loss for every 1% that worst performing ETF declines if it ends below final barrier
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| Call: | Starting Sept. 29, 2023 at par and on any subsequent monthly review date
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| Initial levels: | $33.42 for Financial Select Sector SPDR Fund, $39.25 for iShares MSCI Emerging Markets ETF
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| Coupon barriers: | $23.394 for Financial Select Sector SPDR Fund, $27.475 for iShares MSCI Emerging Markets ETF, 70% of initial levels
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| Final barriers: | $23.394 for Financial Select Sector SPDR Fund, $27.475 for iShares MSCI Emerging Markets ETF, 70% of initial levels
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| Pricing date: | June 29, 2023
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| Settlement date: | July 5, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.1%
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| Cusip: | 17291RLJ9
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