Published on 8/9/2023 in the Prospect News Structured Products Daily.
New Issue: Citi sells $175,000 autocallable contingent coupon market-linked notes on indexes
Chicago, Aug. 9 – Citigroup Global Markets Holdings Inc. priced $175,000 of autocallable contingent coupon market-linked notes due July 31, 2030 linked to the worst performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Investors will receive an annual coupon at a 6% annual rate if each index closes at or above its 85% coupon barrier on the related observation date.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any annual valuation date.
If not called early, the payout at maturity will be par plus any coupon due.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon market-linked notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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| Amount: | $175,000
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| Maturity: | July 31, 2030
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| Coupon: | 6% annual rate, payable annually if each index closes at or above its coupon barrier on the corresponding observation date
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| Price: | Par
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| Payout at maturity: | Par plus any coupon due
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| Call: | Automatically at par plus the coupon if each index closes at or above its initial level on any annual potential autocall date
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| Initial levels: | 35,520.12 for Dow, 15,499.26 for Nasdaq, 1,980.355 for Russell
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| Coupon barriers: | 30,192.102 for Dow, 13,174.371 for Nasdaq, 1,683.302 for Russell; 85% of initial levels
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3.8%
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| Cusip: | 17291RP63
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