Published on 4/18/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $33.02 million 10.4% contingent income autocalls on indexes
New York, April 18 – Citigroup Global Markets Holdings Inc. priced $33.02 million of contingent income autocallable securities due April 3, 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 10.4%, 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 on any determination date if each index closes at or above its initial level.
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: | $33,024,000
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| Maturity: | April 3, 2025
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| Coupon: | 10.4%, paid quarterly, if each underlying index closes at or above its 70% 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 on any determination date if each index closes at or above initial level
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| Initial levels: | 13,181.35 for Nasdaq-100 index, 1,802.484 for Russell 2000 index, 4,109.31 for S&P 500 index
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| Downside thresholds: | 9,226.945 for Nasdaq-100 index, 1,261.739 for Russell 2000 index, 2,876.517 for S&P 500 index, 70% of initial level
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| Coupon barriers: | 9,226.945 for Nasdaq-100 index, 1,261.739 for Russell 2000 index, 2,876.517 for S&P 500 index, 70% of initial level
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| Pricing date: | March 31
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| Settlement date: | April 5
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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: | 17331H3H7
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