Published on 10/18/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $370,000 autocallable barrier securities linked to Russell, S&P
By Kiku Steinfeld
Chicago, Oct. 18 – Citigroup Global Markets Holdings Inc. priced $370,000 of 0% autocallable barrier securities due April 2, 2026 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains the payout will be par plus 300% of the worst performing index return. Investors will receive par if the worst performing index declines but ends at or above its 80% 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 8% if the worst performing index closes above 95% of its initial value on March 28, 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: | Russell 2000 index and S&P 500 index
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| Amount: | $370,000
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| Maturity: | April 2, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its initial value, par plus 300% of the worst performing index return; if worst performing index declines but finishes at or above its 80% final barrier, par; 1% loss for every 1% that worst performing index declines if it finishes below its final barrier
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| Initial levels: | 1,752.632 for Russell, 3,971.27 for S&P
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| Final barriers: | 1,402.106 for Russell, 3,177.016 for S&P, 80% of initial level
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| Call: | Automatically at a premium of 8% if the worst performing index closes above 95% of its initial value on March 28, 2024
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| Upside leverage: | 300%
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| Pricing date: | March 28, 2023
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| Settlement date: | March 31, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.2%
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| Cusip: | 17331CWW3
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