New York, Nov. 8 – Citigroup Global Markets Holdings Inc. priced $1.42 million of callable contingent coupon equity linked securities due Nov. 2, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.65% per year, paid monthly, if the index closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par on any monthly review date starting Oct. 30, 2023.
The payout at maturity will be par if the index finishes at or above 80% of initial level. Otherwise, investors will lose 1% 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: | Callable contingent coupon equity linked securities
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Underlying index: | S&P 500 index
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Amount: | $1.42 million
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Maturity: | Nov. 2, 2027
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Coupon: | 7.65% per year, paid monthly if the index closes at or above its 70% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If index finishes at or above its final buffer, par; otherwise, 1% loss for every 1% that index declines beyond the buffer
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Call option: | At par on any monthly review date starting Oct. 30, 2023
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Initial level: | 3,901.06
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Coupon barrier: | 2,730.742, 70% of initial level
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Buffer: | 20%
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Final buffer: | 3,120.848, 80% of initial level
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Pricing date: | Oct. 28
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Settlement date: | Nov. 2
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17330YKS8
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