Published on 8/9/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $998,000 autocallable securities linked to Dow, Russell
Chicago, Aug. 9 – Citigroup Global Markets Holdings Inc. priced $998,000 of 0% autocallable securities due July 31, 2028 linked to the worst performing of the Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on July 29, 2024 with a premium of a 7.25% annual rate if the worst performing index closes above its initial value and on any subsequent quarterly review date.
If the worst performing index gains, the payout at maturity will be par plus the 36.25% premium for the final valuation date. If the worst performer declines but finishes above its 85% buffer level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond its 15% 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 securities
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| Underlying indexes: | Dow Jones industrial average and Russell 2000 index
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| Amount: | $998,000
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| Maturity: | July 31, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains, par plus premium for final valuation date; par if worst performing index declines but finishes at or above its 85% buffer; otherwise, 1% loss for every 1% that worst performing index declines beyond the buffer
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| Call: | Automatically starting on July 29, 2024 with a premium of a 7.25% annual rate if the worst performing index closes above its initial value and on any subsequent quarterly review date
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| Initial levels: | 35,520.12 for Dow, 1,980.355 for Russell
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| Buffer levels: | 30,192.102 for Dow, 1,683.302 for Russell, 85% of initial levels
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| Buffer: | 15%
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| Pricing date: | July 26
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| Settlement date: | July 31
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17291RMU3
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