By William Gullotti
Buffalo, N.Y., July 12 – Citigroup Global Markets Holdings Inc. priced $6.02 million of 0% autocallable market-linked notes due May 31, 2028 linked to the Citi Dynamic Asset Selector 5 Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be automatically called at par plus an early redemption premium of 5.25% per year if the index closes at or above the applicable redemption threshold on any annual determination date starting May 25, 2023.
The redemption threshold is 106% of the initial index level for the first determination date and steps up by 3% each year to a redemption threshold of 118% of the initial level for the last determination date.
If the notes have not been called, the payout at maturity will be par plus any index gain. If the index finishes flat or falls, the payout will be par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable market-linked notes
|
| Underlying index: | Citi Dynamic Asset Selector 5 Excess Return
|
| Amount: | $6,023,000
|
| Maturity: | May 31, 2028
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Par plus 5.25% per year if index closes at or above redemption threshold on any annual determination date starting May 25, 2023; redemption threshold is 106% of the initial index level for the first determination date and steps up by 3% each year to a redemption threshold of 118% of the initial level for the last determination date
|
| Payout at maturity: | Par plus any index gain; par if index declines
|
| Initial level: | 233.18
|
| Pricing date: | May 25
|
| Settlement date: | May 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.75%
|
| Cusip: | 17329FKL7
|
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