Published on 7/7/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $363,000 autocallable securities linked to three indexes
By Kiku Steinfeld
Chicago, July 7 – Citigroup Global Markets Holdings Inc. priced $363,000 of 0% autocallable securities due Feb. 13, 2026 linked to the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on Aug. 10, 2023 with a premium of a 11.5% annual rate if the worst performing index closes above its initial value on any semiannual review date.
If the worst performing index gains, the payout at maturity will be par plus 34.5%. Investors will receive par if the worst performing index but ends above the 70% barrier level and lose 1% for every 1% that the worst performing index declines if it finishes below its barrier level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| 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, Nasdaq-100 index and Russell 2000 index
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| Amount: | $363,000
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| Maturity: | Feb. 13, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its initial value, par plus 34.5%; par if worst performing index declines but finishes at or above its 70% barrier level; otherwise 1% loss for every 1% that worst performing index declines
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| Call: | Automatically starting on Aug. 10, 2023 with a premium of a 11.5% annual rate if the worst performing index closes above its initial value on any semiannual review date
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| Initial levels: | 33,869.27 for Dow, 12,304.92 for Nasdaq, 1,918.814 for Russell
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| Final barrier level: | 23,708.489 for Dow, 8,613.444 for Nasdaq, 1,343.170 for Russell, 70% of initial levels
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 15
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17331CLY1
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