Published on 12/11/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $320,000 autocallable barrier securities linked to indexes
By Kiku Steinfeld
Chicago, Dec. 11 – Citigroup Global Markets Holdings Inc. priced $320,000 of 0% autocallable barrier securities due April 24, 2026 linked to the Nasdaq-100 index, 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 200% of the worst performing index return. Investors will receive par if the worst performing index declines but ends at or above its 70% 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 17.5% if the worst performing index closes above its initial value on April 24, 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $320,000
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| Maturity: | April 24, 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 200% of the worst performing index return; if worst performing index declines but finishes at or above its 70% 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: | 13,000.77 for Nasdaq-100 index, 1,791.506 for Russell 2000 index, 4,133.52 for S&P 500 index
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| Final barriers: | 9,100.539 for Nasdaq-100 index, 1,254.054 for Russell 2000 index, 2,893.464 for S&P 500 index, 70% of initial level
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| Call: | Automatically at a premium of 17.5% if the worst performing index closes above its initial value on April 24, 2024
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| Upside leverage: | 200%
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| Pricing date: | April 21, 2023
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| Settlement date: | April 26, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.95%
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| Cusip: | 17331HT89
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