Published on 7/9/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $725,000 7.6% autocallable contingent coupon notes on three indexes
By Kiku Steinfeld
Chicago, July 10 – Citigroup Global Markets Holdings Inc. priced $725,000 of autocallable contingent coupon equity linked securities due Nov. 18, 2024 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 7.6% per year paid monthly if the worst performing index closes at or above its 75% coupon barrier level on the related valuation date.
The securities will be called automatically at par if the price of the worst performing index is greater than or equal to its initial price on any quarterly valuation date.
If the worst performing index finishes at or above its 70% final barrier level, 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: | $725,000
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| Maturity: | Nov. 18, 2024
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| Coupon: | 7.6% per year paid monthly if the worst performing index closes at or above its coupon barrier level 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 level par; 1% loss for every 1% that worst performing index declines if it ends below final barrier level
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| Call: | Automatically at par if the price of the worst performing index is greater than or equal to its initial price on any quarterly valuation date
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| Initial levels: | 12,502.31 for Nasdaq, 1,941.143 for Russell, 4,137.29 for S&P
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| Coupon barrier levels: | 9,376.733 for Nasdaq, 1,455.857 for Russell, 3,102.968 for S&P, 75% of initial levels
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| Final barrier levels: | 8,751.617 for Nasdaq, 1,358.800 for Russell, 2,896.103 for S&P, 70% of initial levels
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| Pricing date: | Feb. 13
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| Settlement date: | Feb. 16
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.225%
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| Cusip: | 17331CN78
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