Chicago, Feb. 12 – Citigroup Global Markets Holdings Inc. priced $500,000 of autocallable phoenix securities due June 10, 2024 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly coupon of 10.0104% if the ETF closes at or above its 80% coupon barrier on the related valuation date, plus any previously unpaid coupons.
They will be called automatically starting Oct. 5, 2023 if the price of the underlying stock is greater than or equal to its initial price and on any subsequent monthly review date.
The payout at maturity will be par if the ETF finishes at or above its 80% final barrier. If the ETF ends below the final barrier investors will be fully exposed to the losses of the ETF, paid as 24.32557 shares or the cash value of those shares 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: | Autocallable phoenix securities
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| Underlying ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $500,000
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| Maturity: | June 10, 2024
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| Coupon: | 10.0104% annual rate, paid monthly if the ETF closes at or above its 80% coupon barrier on the related valuation date, plus any previously unpaid coupons
|
| Price: | Par of $10,000
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| Payout at maturity: | If ETF finishes at or above final barrier par; if ETF finishes below the final barrier investors will be fully exposed to losses of ETF, paid as shares or cash at issuer’s option
|
| Call: | Automatically at par starting Oct. 5, 2023 if the price of the underlying stock is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial level: | $411.09
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| Final barrier: | $328.872, 80% of initial level
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| Coupon barrier: | $328.872, 80% of initial level
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| Equity ratio: | 24.32557
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| Pricing date: | May 25, 2023
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| Settlement date: | May 31, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17331AFX4
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