By Wendy Van Sickle
Columbus, Ohio, July 27 – Citigroup Global Markets Holdings Inc. priced $10.89 million of 0% bearish barrier market-linked notes with daily barrier observation and conditional return for barrier event due July 26, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Citigroup Inc. guarantees the notes.
A barrier event will occur if the closing level of the index is less than the lower barrier, 80% of initial level, on any day during the life of the notes.
If a barrier event occurs, the payout at maturity will be par plus 10%.
If a barrier event does not occur and the final level of the index is greater than or equal to its initial level, the payout at maturity will be par. Otherwise, the payout will be par plus the absolute value of the index return.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Bearish barrier market-linked notes with daily barrier observation and conditional return for barrier event
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| Underlying index: | S&P 500
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| Amount: | $10,887,000
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| Maturity: | July 26, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If barrier event occurs, par plus 10%; if barrier event does not occur and final index level is greater than or equal to initial level, par; otherwise, par plus absolute value of index return
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| Barrier event: | Closing level of index is less than lower barrier on any day during life of notes
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| Initial index level: | 3,961.63
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| Lower barrier: | 3,169.3, 80% of initial level
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| Pricing date: | July 22
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| Settlement date: | July 27
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| Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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| Fees: | 1%
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| Cusip: | 17330PRG6
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