Published on 5/4/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.64 million autocallable securities linked to Dow, Russell
Chicago, May 4 – Citigroup Global Markets Holdings Inc. priced $1.64 million of 0% autocallable securities due April 28, 2028 linked to the worst performing of the Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on April 25, 2024 with a premium at a 6.5% annual rate if the worst performing index closes above 90% of its initial value and on any subsequent quarterly review date.
If the worst performing index gains or declines by no more than its 10% buffer the payout at maturity will be par plus the 32.% premium for the final valuation date. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond its buffer.
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 securities
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Underlying indexes: | Dow Jones industrial average and Russell 2000 index
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Amount: | $1,643,000
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Maturity: | April 28, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index gains or declines by no more than its 10% buffer, par plus 32.5% premium for final valuation date; otherwise, 1% loss for every 1% that worst performing index declines beyond the buffer
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Call: | Automatically starting on April 25, 2024 with a premium at a 6.5% annual rate if the worst performing index closes above 90% of its initial value and on any subsequent quarterly review date
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Initial levels: | 33,530.83 for Dow, 1,745.952 for Russell index
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Buffer level: | 30,177.747 for Dow, 1,571.357 for Russell index, 90% of initial levels
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Buffer: | 10%
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Pricing date: | April 25
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Settlement date: | April 28
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.5%
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Cusip: | 17331HFZ4
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