Published on 8/30/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $6.69 million 9.6% autocallable contingent coupon notes on Nasdaq, S&P
New York, Aug. 30 – Citigroup Global Markets Holdings Inc. priced $6.69 million of autocallable contingent coupon equity linked securities due Feb. 27, 2025 linked to the Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.6% paid monthly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date.
The securities will be called automatically starting Feb. 26, 2024 if the price of the worst performing index is greater than or equal to its initial price on any 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: | Nasdaq-100 index and S&P 500 index
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Amount: | $6,688,000
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Maturity: | Feb. 27, 2025
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Coupon: | 9.6% paid monthly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date
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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 starting Feb. 26, 2024 if the price of the worst performing index is greater than or equal to its initial price on any monthly valuation date
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Initial levels: | 14,816.44 for Nasdaq-100 index, 4,376.31 for S&P 500 index
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Coupon barriers: | 11,853.152 for Nasdaq-100 index, 3,501.048 for S&P 500 index, 80% of initial levels
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Buffer: | 15%
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Buffer levels: | 12,593.974 for Nasdaq-100 index, 3,719.864 for S&P 500 index, 85% of initial levels
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Pricing date: | Aug. 24
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Settlement date: | Aug. 29
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.65%
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Cusip: | 17291QTU8
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