By William Gullotti
Buffalo, N.Y., Sept. 9 – Citigroup Global Markets Holdings Inc. priced $31.89 million of 7% autocallable equity linked securities due Sept. 3, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is paid semiannually.
The securities will be called automatically at par plus the fixed coupon if the closing level of the index is greater than or equal to its initial level on any semiannual determination date starting Aug. 28, 2023.
The payout at maturity will be par plus the final fixed coupon if the index finishes at or above its 80% final buffer.
Otherwise, investors will lose 1.25% for every 1% that the index declines beyond 20%.
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 equity linked securities
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| Underlying index: | S&P 500 index
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| Amount: | $31,889,000
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| Maturity: | Sept. 3, 2026
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| Coupon: | 7% per annum, payable semiannually
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| Price: | Par
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| Payout at maturity: | If index finishes at or above final buffer, par plus final coupon; otherwise, 1.25% loss for every 1% that index declines beyond 20%
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| Call: | Automatically at par plus coupon if the closing level of the index is greater than or equal to its initial level on any semiannual determination date starting Aug. 28, 2023
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| Initial level: | 3,955.0
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| Final buffer: | 3,164.0; 80% of initial level
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 6
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17330RBD6
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