By Kiku Steinfeld
Chicago, July 31 – Citigroup Global Markets Holdings Inc. priced $380,000 of 0% autocallable barrier securities due Feb. 25, 2028 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 annualized 8.1% call premium if the index closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called and the index finishes at or above initial level, the payout at maturity will be par plus the return.
If the index declines but finishes at or above 90% 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.
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 barrier securities
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| Underlying index: | S&P 500 index
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| Amount: | $380,000
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| Maturity: | Feb. 25, 2028
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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 index 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 annualized call premium of 8.1% if the index closes at or above initial level on any quarterly observation date after one year
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| Initial level: | 3,997.34
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| Trigger level: | 3,597.606; 90% of initial level
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| Pricing date: | Feb. 21, 2023
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| Settlement date: | Feb. 24, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.1%
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| Cusip: | 17331CNG8
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