Published on 5/23/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.11 million contingent coupon equity linked autocalls on three indexes
New York, May 23 – Citigroup Global Markets Holdings Inc. priced $2.11 million of autocallable contingent coupon equity linked securities due May 3, 2028 linked to the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7%, paid monthly, if the worst performing index closes at or above its 75% coupon barrier on the related valuation date.
The securities will be called automatically at par if the closing level of the worst performing index is greater than or equal to its initial level on any monthly valuation date starting April 29, 2024.
The payout at maturity will be par if the worst performing index finishes at or above 75% of initial level. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond 25%.
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 contingent coupon equity linked securities
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Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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Amount: | $2,105,000
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Maturity: | May 3, 2028
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Coupon: | 7%, paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above 75% of initial level, par; otherwise, 1% loss for every 1% that worst performing index declines beyond 25%
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Call: | Automatically at par if the closing level of the worst performing index is greater than or equal to its initial level on any monthly valuation date starting April 29, 2024
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Initial levels: | 34,098.16 for Dow Jones industrial average, 13,245.99 for Nasdaq-100 index, 1,768.987 for Russell 2000 index
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Coupon barriers: | 25,573.620 for Dow Jones industrial average, 9,934.493 for Nasdaq-100 index, 1,326.740 for Russell 2000 index, 75% of initial levels
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Buffer: | 25%
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Buffer levels: | 25,573.62 for Dow Jones industrial average, 9,934.493 for Nasdaq-100 index, 1,326.740 for Russell 2000 index, 75% of initial levels
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Pricing date: | April 28
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Settlement date: | May 3
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.5%
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Cusip: | 17331HLR5
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