By Kiku Steinfeld
Chicago, Oct. 11 – Citigroup Global Markets Holdings Inc. priced $865,000 of 14.7% autocallable phoenix securities due March 27, 2026 linked to the common stock of Morgan Stanley, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a coupon of 14.7% if the stock closes at or above its 80% coupon barrier on the related valuation date, plus any previously unpaid coupons.
They will be called automatically if the price of the underlying stock is greater than or equal to its initial price on a quarterly review date.
The payout at maturity will be par if the stock finishes at or above its 80% final barrier. If the stock ends below the final barrier, investors will be exposed to the stock’s decline from its initial share price.
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 stock: | Morgan Stanley
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| Amount: | $865,000
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| Maturity: | March 27, 2026
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| Coupon: | 14.7% if the stock closes at or above its 80% coupon barrier on the related valuation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above final barrier, par; if stock finishes below the final barrier, exposure to stock’s decline from initial share price
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| Initial level: | $83.95
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| Final barrier: | $67.160, 80% of initial level
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| Coupon barrier: | $67.160, 80% of initial level
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| Call: | Automatically if the price of the underlying stock is greater than or equal to its initial price on a quarterly review date
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| Pricing date: | March 24, 2023
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| Settlement date: | March 29, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 17331H7J9
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