By Wendy Van Sickle
Columbus, Ohio, Nov. 23 – Citigroup Global Markets Holdings Inc. priced $2 million of 0% barrier securities due April 7, 2026 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
If the final level of the worst performing index is greater than or equal to its upper upside level, 119% of its initial level, the payout at maturity will be $1,248.50 per $1,000 notes plus 237.6% of the return of that index beyond 119%.
If the final level of the worst performing index is less than 119% of its initial level but greater than or equal to its 84% lower upside level, the payout at maturity will be par plus 71% of the return of the worst performing index plus 16%.
If the final level of the worst performing index is less than 84% of its initial level but greater than or equal to its 64% barrier level, the payout at maturity will be $640 per $1,000 notes plus 180% of the return of that index plus 36%.
If the final level of the worst performing index is less than the 64% barrier level, investors will be fully exposed to the decline of the worst performing index.
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: | Barrier securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $2 million
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| Maturity: | April 7, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of worst performing index is greater than or equal to 119% of its initial level, $1,248.50 per $1,000 notes plus 237.6% of the return of that index beyond 119%; if final level of worst performing index is less than 119% of initial level but greater than or equal to 84% lower upside level, par plus 71% of the return of the worst performing index plus 16%; if final level of worst performing index is less than 84% of initial level but greater than or equal to 64% barrier level, $640 per $1,000 notes plus 180% of return of that index plus 36%; otherwise, full exposure to the decline of the worst performing index
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| Initial levels: | For each index, average of its closing value on each scheduled trading day from and including Nov. 12 to and including Feb. 12
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| Pricing date: | Nov. 13
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| Settlement date: | Nov. 18
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17328WUC0
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