New Issue: Citigroup sells $120,000 autocallable contingent buffered notes on S&P 500

By Kiku Steinfeld

Chicago, April 28 – Citigroup Global Markets Holdings Inc. priced $120,000 of 0% autocallable contingent buffered notes due Dec. 27, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Citigroup Inc.

If index closes at or above its 90% call level on Jan. 5, 2024, the notes will be called at par plus a premium of 10.75%.

If index finishes at or above its initial level, the payout at maturity will the greater of par plus the index return and par plus 21.5%.

If the index declines up to the 80% buffer, investors will receive par. Otherwise, investors will lose 1.25% for each 1% decline of the index beyond 20%.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Autocallable contingent buffered notes
Underlying index:	S&P 500 index
Amount:	$120,000
Maturity:	Dec. 27, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above its initial level, the greater of par plus 21.5% and par plus the index return; if the index declines no farther than buffer level, par; otherwise, investors will lose 1.25% for each 1% decline beyond 20%
Call:	If index closes at or above call level on Jan. 5, 2024, at par plus an 10.75% call premium
Initial level:	3,844.82
Call level:	3,460.338; 90% of initial level
Buffer level:	3,075.856; 80% of initial level
Pricing date:	Dec. 23, 2022
Settlement date:	Dec. 29, 2022
Underwriter:	Citigroup Global Markets Inc.
Fees:	1.5%
Cusip:	17330YZJ2

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.