Published on 4/18/2023 in the Prospect News Structured Products Daily.
New Issue: Citi sells $2.75 million market-linked contingent autocalls with downside on indexes
By William Gullotti
Buffalo, N.Y., April 18 – Citigroup Global Markets Holdings Inc. priced $2.75 million of 0% market-linked autocallable securities with contingent downside due April 6, 2026 linked to the Dow Jones industrial average the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will be automatically called at par plus a 12.8% annualized call premium if each index closes at or above initial levels on any annual valuation date.
The payout at maturity will be par unless any index falls by more than 40%, in which case investors will lose 1% for every 1% decline of the worst performer from its initial level.
Citigroup Global Markets Inc. and Wells Fargo Securities are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked autocallable securities with contingent downside
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $2,752,000
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| Maturity: | April 6, 2026
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par unless any index falls by more than 40%, in which case full exposure the decline of the worst performer from its initial level
|
| Call: | Automatically at par plus a 12.8% annualized call premium if each index closes at or above initial levels on any annual valuation date
|
| Initial levels: | 32,717.6 for Dow, 1,771.599 for Russell, 12,846.03 for Nasdaq
|
| Threshold levels: | 19,630.56 for Dow, 1,062.9594 for Russell, 7,707.618 for Nasdaq; 60% of initial levels
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| Pricing date: | March 29
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| Settlement date: | April 3
|
| Agents: | Citigroup Global Markets Inc., Wells Fargo Securities
|
| Fees: | 2.575%
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| Cusip: | 17331HA71
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