By Kiku Steinfeld
Chicago, Aug. 28 – Citigroup Global Markets Holdings Inc. priced $1.18 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due March 3, 2025 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any gain in the fund, capped at a maximum return of par plus 45%.
If the fund falls by up to 15%, the payout will be par.
Investors will lose 1% for every 1% decline of the fund beyond the 15% buffer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the lead agent and Wells Fargo Securities LLC is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
|
| Underlying fund: | Energy Select Sector SPDR fund
|
| Amount: | $1,182,000
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| Maturity: | March 3, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any fund gain, capped at $1,450 per security; if fund falls by up to 15%, par; otherwise, 1% loss for every 1% decline of fund beyond 15% buffer
|
| Initial levels: | $84.91
|
| Buffer level: | $72.1735, 85% of initial level
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| Pricing date: | Feb. 27, 2023
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| Settlement date: | March 2, 2023
|
| Agents: | Citigroup Global Markets Inc. as lead agent with Wells Fargo Securities LLC as agent
|
| Fees: | 2.52%
|
| Cusip: | 17331CKU0
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