Published on 2/13/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $630,000 8.4% autocallable contingent coupon equity notes on indexes
Chicago, Feb. 13 – Citigroup Global Markets Holdings Inc. priced $630,000 of autocallable contingent coupon equity-linked securities due March 3, 2025 linked to the worst performing of the Dow Jones industrial average, Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.4% paid monthly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date.
The securities will be called automatically at par starting May 28, 2024 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 20% buffer. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond the 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 contingent coupon equity-linked securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and S&P 500 index
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| Amount: | $630,000
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| Maturity: | March 3, 2025
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| Coupon: | 8.4% annual rate, paid monthly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing index gains or declines by no more than 20% buffer par; 1% loss for every 1% that worst performing index declines beyond buffer
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| Call: | Automatically at par starting May 28, 2024 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date
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| Initial levels: | 33,093.34 for Dow, 14,298.41 for Nasdaq, 4,205.45 for S&P
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| Coupon barriers: | 26,474.672 for Dow, 11,438.728 for Nasdaq, 3,364.360 for S&P, 80% of initial levels
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| Buffer levels: | 26,474.672 for Dow, 11,438.728 for Nasdaq, 3,364.36 for S&P, 80% of initial levels
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| Buffer: | 20%
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| Pricing date: | May 26, 2023
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| Settlement date: | June 1, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.65%
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| Cusip: | 17331HZG4
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