Published on 1/18/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $214,000 autocallable contingent coupon notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., Jan. 18 – Citigroup Global Markets Holdings Inc. priced $214,000 of autocallable contingent coupon market-linked securities due May 3, 2028 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 6.5% per year if each index closes at or above its coupon barrier level, 80% of its initial index level, on the observation day for that month.
Beginning April 30, 2024, the notes will be automatically called at par if the least performing index closes at or above its initial level on any potential autocall date, which occur quarterly.
If the notes are not called, the payout at maturity will be par.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon market-linked securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $214,000
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| Maturity: | May 3, 2028
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| Coupon: | 6.5% per year, payable monthly if each index closes at or above coupon barrier level on observation day for that month
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| Price: | Par
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| Payout at maturity: | Par
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| Call: | Beginning April 30, 2024, automatically at par if least performing index closes at or above initial level on any quarterly potential autocall date
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| Initial levels: | 13,245.99 for Nasdaq, 1,768.987 for Russell and 4,169.48 for S&P
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| Coupon barrier levels: | 10,569.792 for Nasdaq, 1,415.190 for Russell and 3,335.584 for S&P, or 80% of initial levels
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| Pricing date: | April 28, 2023
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| Settlement date: | May 3, 2023
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17331HPH3
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