Published on 7/26/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $952,000 autocallable buffer securities linked to Russell 2000, S&P 500
New York, July 26 – Citigroup Global Markets Holdings Inc. priced $952,000 of 0% autocallable buffer securities due July 24, 2025 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at a premium of 12% if the worst performing index closes at or above its initial value on July 23, 2024.
If the worst performing index gains, the payout at maturity will be par plus 202.5% of its return.
Investors will receive par if the worst performing index declines but ends at or above its 85% buffer level and will lose 1% for every 1% that the worst performing index declines beyond the buffer.
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 buffer securities
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $952,000
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| Maturity: | July 24, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its initial value, par plus 202.5% of its return; par if worst performing index declines but finishes at or above its 85% buffer level; otherwise, 1% loss for every 1% that worst performing index declines beyond 15%
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| Call: | Automatically at a premium of 12% if the worst performing index closes at or above its initial value on July 23, 2024
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| Initial levels: | 1,967.160 for Russell 2000 index, 4,534.87 for S&P 500 index
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| Buffer: | 15%
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| Buffer levels: | 1,672.086 for Russell 2000 index, 3,854.64 for S&P 500 index, 85% of initial level
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| Pricing date: | July 20
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| Settlement date: | July 25
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.8%
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| Cusip: | 17291RQV7
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