Published on 10/26/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.33 million autocallable securities linked to Dow, S&P
By Kiku Steinfeld
Chicago, Oct. 26 – Citigroup Global Markets Holdings Inc. priced $1.33 million of 0% autocallable securities due April 6, 2026 linked to the Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus an 11.5% annual call premium if the worst performing index closes at or above its initial value on April 3, 2024 or March 31, 2025.
If the worst performing index finishes at or above its initial level, the payout at maturity will be par plus 34.5%. The payout will be par if the worst performing index declines but by no more than the 15% buffer. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond its 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 S&P 500 index
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| Amount: | $1.33 million
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| Maturity: | April 6, 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 initial level, par plus 34.5%; par if worst performing index declines but finishes at or above 85% buffer level; otherwise, 1% loss for every 1% that worst performing index declines beyond 15%
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| Call: | Automatically at par plus an 11.5% annual call premium if the worst performing index closes at or above its initial value on April 3, 2024 or March 31, 2025
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| Initial levels: | 33,274.15 for Dow, 4,109.31 for S&P
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| Buffer levels: | 28,283.028 for Dow, 3,492.914 for S&P, 85% of initial level
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| Pricing date: | March 31, 2023
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| Settlement date: | April 5, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.95%
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| Cusip: | 17331H3G9
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