Published on 5/26/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $5.43 million contingent coupon equity linked autocalls on two indexes
New York, May 26 – Citigroup Global Markets Holdings Inc. priced $5.43 million of autocallable contingent coupon equity linked securities due May 24, 2028 linked to the Dow Jones industrial average and the S&P 500 Dynamic Participation index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5%, paid monthly, if the worst performing index closes at or above its 85% coupon barrier on the related valuation date, plus any previously unpaid coupons.
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 May 20, 2024.
The payout at maturity will be par if the worst performing index finishes at or above 85% of initial level. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond 15%.
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 and S&P 500 Dynamic Participation index
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| Amount: | $5,431,000
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| Maturity: | May 24, 2028
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| Coupon: | 8.5%, paid monthly if the worst performing index closes at or above its 85% coupon barrier on the related valuation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above 85% of initial level, par; otherwise, 1% loss for every 1% that worst performing index declines beyond 15%
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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 May 20, 2024
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| Initial levels: | 33,426.63 for Dow Jones industrial average, 697.14 for S&P 500 Dynamic Participation index
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| Coupon barriers: | 28,412.636 for Dow Jones industrial average, 592.569 for S&P 500 Dynamic Participation index, 85% of initial levels
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| Buffer: | 15%
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| Buffer levels: | 28,412.636 for Dow Jones industrial average, 592.569 for S&P 500 Dynamic Participation index, 85% 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: | 3.7%
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| Cusip: | 17331HQY5
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