Published on 4/12/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.1 million contingent coupon equity linked autocalls on three indexes
New York, April 12 – Citigroup Global Markets Holdings Inc. priced $3.1 million of autocallable contingent coupon equity linked securities due April 11, 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.
Investors will receive a coupon of 8.1% per year, 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 quarterly valuation date starting April 8, 2024.
If the worst performing index finishes at or above its 70% final barrier, the payout at maturity will be par. Otherwise, investors will lose 1% loss for every 1% that the worst performing index declines.
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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $3,103,000
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Maturity: | April 11, 2028
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Coupon: | 8.1%, 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 final barrier, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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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 quarterly valuation date starting April 8, 2024
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Initial levels: | 13,062.60 for Nasdaq-100 index, 1,754.464 for Russell 2000 index, 4,105.02 for S&P 500 index
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Coupon barriers: | 9,796.950 for Nasdaq-100 index, 1,315.848 for Russell 2000 index, 3,078.765 for S&P 500 index, 75% of initial levels
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Final barriers: | 9,143.820 for Nasdaq-100 index, 1,228.125 for Russell 2000 index, 2,873.514 for S&P 500 index, 70% of initial levels
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Pricing date: | April 6
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Settlement date: | April 12
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17331HB54
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