By Kiku Steinfeld
Chicago, Feb. 3 – Citigroup Global Markets Holdings Inc. priced $450,000 of 12% autocallable equity linked securities due Nov. 9, 2023 linked to the common stock of Target Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive interest of 12% per year, payable quarterly.
The securities will be called automatically at par starting May 4, 2023 and on any subsequent quarterly call determination date if the stock closes at or above its initial level.
The payout at maturity will be par if the stock ends at or above its 60% final barrier. Otherwise investors will lose 1% for every 1% that the stock declines, payable in 62.64487 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: | Autocallable equity linked securities
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| Underlying stock: | Target Corp.
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| Amount: | $450,000
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| Maturity: | Nov. 9, 2023
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| Coupon: | 12% per year, payable quarterly
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| Price: | $10,000.00
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| Payout at maturity: | If stock finishes at or above final barrier par; 1% loss for every 1% that stock declines if it ends below final barrier, 62.64487 shares or cash at the option of the issuer
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| Call: | Automatically at par starting May 4, 2023 and on any subsequent quarterly call determination date if the stock closes at or above its initial level
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| Initial level: | $159.63
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| Final barrier: | $95.778, 60% of initial level
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| Pricing date: | Nov. 4, 2022
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| Settlement date: | Nov. 9, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17330DJU1
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