Published on 3/31/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $11.47 million 11% contingent income autocalls on indexes
New York, March 31 – Citigroup Global Markets Holdings Inc. priced $11.47 million of contingent income autocallable securities due March 27, 2025 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par if each index closes above its initial level on any quarterly determination date.
At maturity the payout will be par unless the worst performing index closes below its 70% downside threshold level in which case investors will be fully exposed to the decline of the worst performing index.
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: | Contingent income autocallable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $11,468,000
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| Maturity: | March 27, 2025
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| Coupon: | 11%, paid quarterly, if each underlying index closes at or above its coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically at par if each index closes above its initial level on any quarterly determination date
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| Initial levels: | 12,767.05 for Nasdaq-100 index, 1,734.923 for Russell 2000 index, 3,970.99 for S&P 500 index
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| Downside thresholds: | 8,936.935 for Nasdaq-100 index, 1,214.446 for Russell 2000 index, 2,779.693 for S&P 500 index, 70% of initial levels
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| Coupon barriers: | 8,936.935 for Nasdaq-100 index, 1,214.446 for Russell 2000 index, 2,779.693 for S&P 500 index, 70% of initial levels
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| Pricing date: | March 24
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| Settlement date: | March 29
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2% including a structuring fee of 0.5%
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| Cusip: | 17331HAS5
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