Published on 5/25/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $9.69 million 11% contingent income autocallables on indexes
New York, May 25 – Citigroup Global Markets Holdings Inc. priced $9.69 million of contingent income autocallable securities due May 22, 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 75% 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 determination date.
At maturity the payout will be par unless the worst performing index closes below its 75% 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.
|
| 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: | $9,686,000
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| Maturity: | May 22, 2025
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| Coupon: | 11%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date
|
| 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
|
| Call: | Automatically at par if each index closes above initial level on any determination date
|
| Initial levels: | 13,803.49 for Nasdaq, 1,773.717 for Russell, 4,191.98 for S&P
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| Downside thresholds: | 10,352.618 for Nasdaq, 1,330.288 for Russell, 3,143.985 for S&P, 75% of initial levels
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| Coupon barriers: | 10,352.618 for Nasdaq, 1,330.288 for Russell, 3,143.985 for S&P, 75% of initial levels
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| Pricing date: | May 19
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| Settlement date: | May 24
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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: | 17331HXL5
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