Published on 1/3/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1.43 million autocallable securities on Nasdaq, Dow
By William Gullotti
Buffalo, N.Y., Jan. 3 – Citigroup Global Markets Holdings Inc. priced $1.43 million of 0% autocallable securities due Dec. 27, 2027 tied to the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
If each index closes at or above its initial level on any semiannual valuation date after one year, the notes will be called at par plus an 11.7% annualized premium.
If each index finishes at or above its initial level, the payout at maturity will be par plus 46.8%.
If the least performing index finishes below its initial level but not below the barrier level, 75% of the initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable securities
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| Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $1,428,000
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| Maturity: | Dec. 27, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 46.8%; if the least performing index finishes below its initial level but not below the barrier level, par; otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level
|
| Call: | If each index closes at or above its initial level on any semiannual valuation date after one year, the notes will be called at par plus an 11.7% annualized premium
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| Initial levels: | 37,404.35 for Dow, 16,757.41 for Nasdaq
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| Barrier levels: | 28,053.263 for Dow, 12,568.058 for Nasdaq; 75% of initial levels
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | None
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| Cusip: | 17291TKD9
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