Published on 7/28/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $4.78 million autocallable barrier securities on indexes
Chicago, July 28 – Citigroup Global Markets Holdings Inc. priced $4.78 million of 0% autocallable barrier securities due July 26, 2028 linked to the worst performing of the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains the payout will be par plus 200% of the worst performing index return. Investors will receive par if the worst performing index declines but ends at or above its 70% final barrier and they will lose 1% for every 1% that the worst performing index declines if it finishes below the final barrier.
The notes will be called automatically at a premium of 12.35% if the worst performing index closes above its initial value on July 24, 2024.
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 barrier securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $4,781,000
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| Maturity: | July 26, 2028
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its initial value, par plus 200% of the worst performing index return; if worst performing index declines but finishes at or above its 70% final barrier, par; 1% loss for every 1% that worst performing index declines if it finishes below its final barrier
|
| Call: | Automatically at a premium of 12.35% if the worst performing index closes above its initial value on July 24, 2024
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| Initial levels: | 35,227.69 for Dow, 15,425.67 for Nasdaq, 1,960.255 for Russell
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| Final barriers: | 24,659.383 for Dow, 10,797.969 for Nasdaq, 1,372.179 for Russell, 70% of initial levels
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| Upside leverage: | 200%
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| Pricing date: | July 21
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| Settlement date: | July 26
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17291RLP5
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