Published on 2/15/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.21 million autocallables linked to Dow, Russell
New York, Feb. 15 – Citigroup Global Markets Holdings Inc. priced $1.21 million of 0% autocallable securities due June 30, 2028 linked to the Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Starting on June 27, 2024, the securities will be called automatically at par plus a premium of 7.75% per year if the worst performing index closes above its initial value on any quarterly review date.
If the worst performing index gains, the payout at maturity will be par plus the premium for the final valuation date. 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 Russell 2000 index
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Amount: | $1,205,000
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Maturity: | June 30, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index gains, par plus premium for final valuation date; par if worst performing index declines but finishes at or above its 85% buffer level; otherwise, 1% loss for every 1% that worst performing index declines beyond the buffer
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Call: | Starting on June 27, 2024, automatically at par plus a premium of 7.75% per year if the worst performing index closes above initial value on any quarterly review date
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Initial levels: | 33,926.74 for Dow Jones industrial average, 1,849.930 for Russell 2000 index
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Buffer: | 15%
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Buffer levels: | 28,837.729 for Dow Jones industrial average, 1,572.441 for Russell 2000 index, 85% of initial levels
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Pricing date: | June 27, 2023
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Settlement date: | June 30, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.5%
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Cusip: | 17291RDW9
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