Published on 2/25/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $575,000 market-linked autocalls with contingent downside on two indexes
By Kiku Steinfeld
Chicago, Feb. 26 – Citigroup Global Markets Holdings Inc. sold $575,000 of 0% market-linked securities – autocallable with contingent downside due June 30, 2028 linked to the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will be automatically called at par plus 9.85% per year if each index closes at or above initial level on any quarterly observation date after one year.
The payout at maturity will be par if each index finishes at or above its 75% threshold level. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked securities – autocallable with contingent downside
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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| Amount: | $575,000
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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: | Par if each index finishes at or above threshold level; otherwise, full exposure to decline of worst performer from initial level
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| Call: | Automatically at par plus 9.85% per year if each index closes at or above initial level on any quarterly observation date after one year
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| Initial levels: | 1,849.93 for Russell 2000, 14,945.91 for Nasdaq
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| Coupon barriers: | 1,387.4475 for Russell 2000, 11,209.4325 for Nasdaq; 75% of initial level
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| Threshold levels: | 1,387.4475 for Russell 2000, 11,209.4325 for Nasdaq; 75% of initial level
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| Pricing date: | June 27, 2023
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| Settlement date: | June 30, 2023
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| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
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| Fees: | 2.825%
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| Cusip: | 17291RG71
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