By Kiku Steinfeld
Chicago, Jan. 24 – Citigroup Global Markets Holdings Inc. priced $665,000 of 0% autocallable dual directional buffer securities due June 10, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a 9.15% call premium if the index closes at or above its initial level on June 5, 2024.
If the index gains, the payout will be par plus 125% of the index return.
The payout will be par plus the absolute value of the index return if the index declines but ends at or above the 85% buffer.
Otherwise, investors will lose 1% for every 1% that the index declines beyond 15%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable dual directional buffer securities
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| Underlying index: | S&P 500 index
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| Amount: | $665,000
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| Maturity: | June 10, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index gains, par plus 125% of index return; par plus absolute value of index return if index declines but ends at or above 85% buffer level; otherwise, 1% loss for every 1% that index declines beyond 15%
|
| Call: | Automatically at par plus a 9.15% call premium if the index closes at or above its initial level on June 5, 2024
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| Initial level: | 4,273.79
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| Upside leverage: | 125%
|
| Buffer: | 15%
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| Buffer level: | 3,632.722, 85% of initial level
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| Pricing date: | June 5, 2023
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| Settlement date: | June 8, 2023
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17291RE40
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