Published on 7/14/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.38 million autocallable barrier securities on Nasdaq, Russell, S&P
New York, July 14 – Citigroup Global Markets Holdings Inc. priced $1.38 million of 0% autocallable barrier securities due July 6, 2028 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at a premium of 21.25% if the worst performing index closes at or above its initial value on July 2, 2024.
If the worst performing index gains, the payout will be par plus 150% of that index’s return.
Investors will receive par if the worst performing index declines but ends at or above its 70% final barrier and will lose 1% for every 1% that the worst performing index declines if it finishes below the final barrier.
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 barrier securities
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $1,378,000
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Maturity: | July 6, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its initial value, par plus 150% of that index’s return; if worst performing index declines but finishes at or above its 70% final barrier, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Call: | Automatically at a premium of 21.25% if the worst performing index closes at or above its initial value on July 2, 2024
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Initial levels: | 15,179.21 for Nasdaq-100 index, 1,888.734 for Russell 2000 index, 4,450.38 for S&P 500 index
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Final barriers: | 10,625.447 for Nasdaq-100 index, 1,322.114 for Russell 2000 index, 3,115.266 for S&P 500 index, 70% of initial levels
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Upside leverage: | 150%
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.125%
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Cusip: | 17291RE81
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