By Wendy Van Sickle
Columbus, Ohio, March 9 – Citigroup Global Markets Holdings Inc. priced $20.05 million of autocallable contingent coupon equity-linked securities due March 5, 2026 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent semiannual coupon at an annualized rate of 7.45% if the index closes at or above the coupon barrier level, 80% of the initial level, on the valuation date for that period.
Beginning Feb. 28, 2023, the notes will be automatically called at par plus the contingent coupon if the index closes at or above the initial level on any semiannual valuation date.
If the notes are not called and the index finishes at or above the coupon barrier, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1.25% for every 1% that the index declines beyond 20%.
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: | Autocallable contingent coupon equity-linked securities
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| Underlying index: | S&P 500 index
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| Amount: | $20,053,000
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| Maturity: | March 5, 2026
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| Coupon: | 7.45% annually, payable semiannually if index closes at or above coupon barrier on the corresponding valuation date
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| Price: | Par
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| Payout at maturity: | If notes are not called and the index finishes at or above the coupon barrier, par plus the final coupon; otherwise, 1.25% loss for every 1% decline in the index beyond 20%
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| Call: | Beginning Feb. 28, 2023, automatically at par plus contingent coupon if index closes at or above initial level on any semiannual valuation date
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| Initial level: | 4,386.54
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| Coupon barrier: | 3,509.232; 80% of initial level
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| Final buffer: | 3,509.232; 80% of initial level
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| Pricing date: | March 2
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| Settlement date: | March 7
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17330A5X6
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