Published on 3/26/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $656,000 dual directional market-linked autocalls tied to S&P
By Kiku Steinfeld
Chicago, March 26 – Citigroup Global Markets Holdings Inc. priced $656,000 of 0% autocallable dual directional market-linked notes due July 3, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called at par plus a 6% premium if the index closes at or above its initial level on July 1, 2024.
If the index finishes positive, the payout at maturity will be par plus the return, capped at 14%.
If the index declines by up to 10%, the payout at maturity will be par plus the absolute value of the index return. Otherwise, investors will receive par.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable dual directional market-linked notes
|
| Underlying index: | S&P 500 index
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| Amount: | $656,000
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| Maturity: | July 3, 2025
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| Coupon: | 0%
|
| Price: | Par
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| Call: | At par plus 6% premium if index closes at or above initial level on July 1, 2024
|
| Payout at maturity: | If index finishes positive, par plus the return, capped at 14%; if index falls by up to 10%, par plus absolute value of index return; otherwise, par
|
| Initial level: | 4,450.38
|
| Barrier level: | 90% of initial level
|
| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17291R5U2
|
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