Published on 8/9/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $513,000 6.7% autocallable contingent coupon notes on indexes
Chicago, Aug. 9 – Citigroup Global Markets Holdings Inc. priced $513,000 of autocallable contingent coupon equity-linked securities due July 31, 2028 linked to the worst performing of the Dow Jones industrial average and S&P 500 Dynamic Participation index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.7% paid monthly if the worst performing index closes at or above its 85% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically starting July 26, 2024 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 15% buffer. Otherwise, investors 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 contingent coupon equity-linked securities
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Underlying indexes: | Dow Jones industrial average and S&P 500 Dynamic Participation index
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Amount: | $513,000
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Maturity: | July 31, 2028
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Coupon: | 6.7% annual rate, paid monthly if the worst performing index closes at or above its 85% coupon barrier on the related valuation date, plus any previously unpaid coupons
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Price: | Par
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Payout at maturity: | If worst performing index gains or declines by no more than 15% buffer par; 1% loss for every 1% that worst performing index declines beyond buffer
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Call: | Automatically at par starting July 26, 2024 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date
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Initial levels: | 35,520.12 for Dow, 765.45 for Dynamic Participation index
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Coupon barriers: | 30,192.102 for Dow, 650.633 for Dynamic Participation index, 85% of initial levels
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Buffer levels: | 30,192.102 for Dow, 650.633 for Dynamic Participation index, 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: | 4%
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Cusip: | 17291RR87
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