By William Gullotti
Buffalo, N.Y., May 10 – Citigroup Global Markets Holdings Inc. priced $3.82 million of 0% geared autocallable buffer securities due May 1, 2025 linked to 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 be automatically called at par plus a 9.12% call premium if the ETF closes at or above its initial level on May 1, 2023.
If the index finishes above its initial value, the payout at maturity will be par plus 1.2 times the gain.
If the index finishes flat or falls by up to 40%, the payout will be par.
Otherwise, investors will lose 1.666667% for every 1% of index decline beyond the 40% buffer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Geared autocallable buffer securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $3,822,000
|
| Maturity: | May 1, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.2 times any index gain; par if the index finishes flat or falls by up to 40%; otherwise, 1.666667% loss for every 1% the index declines beyond the 40% buffer
|
| Call: | Automatically at par plus a 9.12% call premium if the index closes at or above its initial value on May 1, 2023
|
| Initial value: | 4,287.5
|
| Buffer value: | 2,572.5; 60% of initial value
|
| Pricing date: | April 28
|
| Settlement date: | May 3
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.6%
|
| Cusip: | 17330F5T4
|
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