Published on 3/16/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $5.96 million 9.9% autocallable contingent coupon notes on indexes
Chicago, March 16 – Citigroup Global Markets Holdings Inc. priced $5.96 million of autocallable contingent coupon equity linked securities due Sept. 13, 2024 linked to the worst performing of the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.9% 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 at par starting Sept. 11, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date.
If the worst performing index finishes at or above its 60% 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: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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Amount: | $5.96 million
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Maturity: | Sept. 13, 2024
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Coupon: | 9.9% annual rate, 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 at par starting Sept. 11, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date
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Initial levels: | 31,909.64 for Dow, 11,830.28 for Nasdaq, 1,772.702 for Russell
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Coupon barriers: | 22,336.748 for Dow, 8,281.196 for Nasdaq, 1,240.891 for Russell, 70% of initial levels
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Final barriers: | 19,145.784 for Dow, 7,098.168 for Nasdaq, 1,063.621 for Russell, 60% of initial levels
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Pricing date: | March 10
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Settlement date: | March 15
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.65%
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Cusip: | 17331CVQ7
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