Published on 9/21/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $550,000 10.05% autocallable contingent coupon notes on Nasdaq, S&P
By Kiku Steinfeld
Chicago, Sept. 21 – Citigroup Global Markets Holdings Inc. priced $550,000 of autocallable contingent coupon equity linked securities due Dec. 12, 2024 linked to the 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 10.05% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called automatically starting March 8, 2024 if the level of the worst performing index is greater than or equal to its initial level on a monthly 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.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity linked securities
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| Underlying indexes: | Nasdaq-100 index and S&P 500 index
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| Amount: | $550,000
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| Maturity: | Dec. 12, 2024
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| Coupon: | 10.05% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date
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| Price: | Par
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| 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
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| Call: | Automatically starting March 8, 2024 if the level of the worst performing index is greater than or equal to its initial level on a monthly valuation date
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| Initial levels: | 12,215.33 for Nasdaq index, 3,992.01 for S&P
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| Coupon barriers: | 8,550.731 for Nasdaq index, 2,794.407 for S&P, 70% of initial levels
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| Final barriers: | 8,550.731 for Nasdaq index, 2,794.407 for S&P, 70% of initial levels
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| Pricing date: | March 8, 2023
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| Settlement date: | March 13, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.25%
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| Cusip: | 17331CTJ6
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