By Kiku Steinfeld
Chicago, June 5 – Citigroup Global Markets Holdings Inc. priced $609,000 of 0% enhanced barrier digital plus securities due Jan. 28, 2028 linked to the SPDR Dow Jones industrial average ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund finishes above its upper threshold value, 123% of initial level, the payout at maturity will be par plus the 23% digital payment plus the excess appreciation amount, capped at 80%. The excess appreciation amount is a) 1.1 times b) the fund gain minus 23%.
If the fund finishes below the upper threshold value but at or above the 80% final barrier level, the payout will be par plus the 23% digital payment.
Otherwise, investors will be exposed to the losses of the ETF, payable in 2.96454 shares or cash at the option of the issuer.
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: | Enhanced barrier digital plus securities
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| Underlying fund: | SPDR Dow Jones industrial average ETF Trust
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| Amount: | $609,000
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| Maturity: | Jan. 28, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If fund finishes above its upper threshold value, par plus the 23% digital payment plus a 1.1% gain for each 1% appreciation in the fund in excess of the upper threshold value, subject to 80% cap; if fund finishes below upper threshold level but at or above final barrier level, par plus digital payment; full exposure losses of fund if it finishes below final barrier level, payable in 2.96454 shares or cash at the option of the issuer
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| Initial level: | $337.32
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| Upper threshold value: | $414.904, 123% of initial level
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| Final barrier level: | $269.856, 80% of initial level
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| Digital payment: | 23%
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| Pricing date: | Jan. 25, 2023
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| Settlement date: | Jan. 30, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17331AAM3
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