By Kiku Steinfeld
Chicago, Feb. 26 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable contingent coupon equity linked securities due July 2, 2026 linked to the common stock of Schlumberger Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.65% paid monthly if the stock closes at or above its 50% coupon barrier on the related valuation date.
The securities will be called automatically starting Dec. 27, 2023 if the level of the stock is greater than or equal to its initial level on any quarterly valuation date.
If the stock finishes at or above its 50% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the stock declines, with the payment made in cash or stock at the issuer's option.
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 contingent coupon equity linked securities
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| Underlying stock: | Schlumberger Ltd.
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| Amount: | $500,000
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| Maturity: | July 2, 2026
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| Coupon: | 11.65% paid monthly if the stock closes at or above its 50% coupon barrier on the related valuation date
|
| Price: | Par of $10,000
|
| Payout at maturity: | If stock finishes at or above final barrier par; 1% loss for every 1% that stock declines if it ends below final barrier, payable in 207.72746 shares or cash at issuer’s option
|
| Call: | Automatically starting Dec. 27, 2023 if the level of the stock is greater than or equal to its initial level on any quarterly valuation date
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| Initial level: | $48.14
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| Coupon barrier: | $24.07, 50% of initial level
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| Final barrier: | $24.07, 50% of initial level
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| Pricing date: | June 27, 2023
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| Settlement date: | June 30, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17331AGW5
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