Chicago, Oct. 2 – Citigroup Global Markets Holdings Inc. priced $740,000 of 0% enhanced barrier digital plus securities due Sept. 30, 2027 linked to the SPDR Dow Jones industrial average ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF finishes above its initial level, the payout at maturity will be the greater of par and the 23% digital return amount or par plus the return.
If the ETF declines but finishes above 60% of its initial level, investors will receive par.
Otherwise, investors will be fully exposed to the losses of the ETF, payable as shares or cash at the issuer’s option.
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: | $740,000
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| Maturity: | Sept. 30, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If fund return is positive, par plus greater of par plus 23% digital return or return of fund; par if fund declines but finishes above barrier level; otherwise, full exposure to losses payable in cash or shares at issuer’s option
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| Initial level: | $291.30
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| Final barrier level: | $174.78, 60% of initial level
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| Digital payment: | 23%
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| Equity ratio: | 3.43289
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| Pricing date: | Sept. 27, 2022
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| Settlement date: | Sept. 30, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17330DHZ2
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