Chicago, Aug. 18 – Citigroup Global Markets Holdings Inc. priced $865,000 of market-linked securities – autocallable with contingent coupon and contingent downside due July 29, 2025 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
A 5.6% quarterly contingent coupon will be paid if the index closes above its 70% coupon barrier value on any related valuation date.
The notes will be called at par if the index closes above its initial level on any quarterly potential autocall date starting after six months.
If the notes are not called, the payout at maturity will be par unless the index finishes below its 60% downside threshold, in which case investors will be fully exposed to the decline of the index from its initial level.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
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| Underlying index: | S&P 500 index
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| Amount: | $865,000
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| Maturity: | July 29, 2025
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| Coupon: | 5.6% annual rate, paid quarterly if index closes above coupon barrier value on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless index falls by more than 40%, in which case 1% loss per 1% decline from initial level
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| Call: | At par if index closes above initial level on any quarterly potential autocall date starting after six months
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| Initial level: | 4,130.29
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| Coupon barrier value: | 2,891.203; 70% of initial level
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| Downside threshold: | 2,478.174; 60% of initial level
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| Pricing date: | July 29, 2022
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| Settlement date: | Aug. 3, 2022
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| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
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| Fees: | 2.125%
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| Cusip: | 17330PEA3
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