Published on 3/3/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $853,000 9.75% autocallable contingent coupon notes on Russell, S&P
By Kiku Steinfeld
Chicago, March 4 – Citigroup Global Markets Holdings Inc. priced $853,000 of autocallable contingent coupon equity linked securities due June 26, 2026 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.75% paid semi-annually if the worst performing index closes at or above its 70% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically starting Dec. 26, 2023 if the level of the worst performing index is greater than or equal to its initial level on any semi-annual valuation date.
If the worst performing index finishes at or above its 70% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing index declines.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity linked securities
|
| Underlying indexes: | Russell 2000 index and S&P 500 index
|
| Amount: | $853,000
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| Maturity: | June 26, 2026
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| Coupon: | 9.75% paid semi-annually if the worst performing index closes at or above its 70% coupon barrier on the related valuation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above final barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
|
| Call: | Automatically starting Dec. 26, 2023 if the level of the worst performing index is greater than or equal to its initial level on any semi-annual valuation date
|
| Initial levels: | 1,821.635 for Russell 2000 index, 4,348.33 for S&P 500 index
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| Coupon barriers: | 1,275.145 for Russell 2000 index, 3,043.831 for S&P 500 index, 70% of initial levels
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| Final barriers: | 1,275.145 for Russell 2000 index, 3,043.831 for S&P 500 index, 70% of initial levels
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| Pricing date: | June 23, 2023
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| Settlement date: | June 28, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17291RFK3
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