By Kiku Steinfeld
Chicago, Oct. 2 – Citigroup Global Markets Holdings Inc. priced $220,000 of 0% upturn securities due May 22, 2024 linked to the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF gains the payout will be par plus 200% of the ETF return capped at par plus 24.5%.
Investors will lose 1% for every 1% that the ETF declines if it ends below its initial level.
The securities are non-callable.
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: | Upturn securities
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| Underlying ETF: F | inancial Select Sector SPDR Fund
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| Amount: | $220,000
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| Maturity: | May 22, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If ETF finishes at or above its initial value, par plus 200% of ETF return capped at 24.5%; otherwise exposure to decline of ETF
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| Leverage: | 200%
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| Cap: | 24.5%
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| Initial level: | $30.98
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| Call: | Non-callable
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| Pricing date: | March 17, 2023
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| Settlement date: | March 22, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17331H2W5
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