Chicago, Dec. 2 – Citigroup Global Markets Holdings Inc. priced $203,000 of 0% autocallable securities due March 23, 2026 linked to the worst performing of the Consumer Discretionary Select Sector SPDR fund and Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on March 20, 2023 with a premium of a 11.25% annual rate if the worst performing fund closes above its initial value and on any subsequent annual review date.
If the worst performing fund gains the payout at maturity will be par plus the 45% premium for the final valuation date. Investors will receive par if the worst performing fund but ends above the 70% barrier and lose 1% for every 1% that the worst performing fund declines if it finishes below its barrier.
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 securities
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| Underlying funds: | Consumer Discretionary Select Sector SPDR fund and Financial Select Sector SPDR fund
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| Amount: | $203,000
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| Maturity: | March 23, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing fund finishes at or above its initial value, par plus 45% premium for final valuation date; par if worst performing fund declines but finishes at or above its 70% barrier; otherwise 1% loss for every 1% that worst performing fund declines
|
| Call: | Automatically starting on March 20, 2023 with a premium of a 11.25% annual rate if the worst performing fund closes above its initial value and on any subsequent annual review date
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| Initial levels: | $181.88 for consumer fund, $39.00 for financial fund
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| Final barriers: | $127.316 for consumer fund, $27.300 for financial fund, 70% of initial levels
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17330APK2
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