By William Gullotti
Buffalo, N.Y., June 14 – Citigroup Global Markets Holdings Inc. priced $2.57 million of 0% autocallable barrier securities due June 4, 2027 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus an 8% call premium if the index closes at or above its initial level on May 31, 2023.
If the notes are not called and the index finishes at or above initial level, the payout at maturity will be par plus 230% of the return.
If the index declines but finishes at or above 60% of its initial level, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.
The notes are guaranteed by Citigroup Inc.
J.P. Morgan Securities LLC is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Autocallable barrier securities
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Underlying index: | S&P 500 index
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Amount: | $2,567,000
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Maturity: | June 4, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes positive, par plus 230% of the return; par if the index declines but finishes at or above barrier level; otherwise, investors will lose 1% for each 1% of index decline from initial level
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Call: | At par plus an 8% call premium if the index closes at or above initial level on May 31, 2023
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Initial level: | 4,132.15
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Trigger level: | 2,479.29; 60% of initial level
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Pricing date: | May 31
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Settlement date: | June 3
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.125%
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Cusip: | 17330FM99
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