Published on 8/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $6.28 million 8.8% contingent income autocalls on indexes
New York, Aug. 10 – Citigroup Global Markets Holdings Inc. priced $6.28 million of contingent income autocallable securities due Aug. 7, 2025 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.8%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting Nov. 6 at par and on any subsequent quarterly review date if each index closes at or above its initial level.
At maturity the payout will be par unless the worst performing index closes below its 75% downside threshold level in which case investors will be fully exposed to the decline of the worst performing index.
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: | Contingent income autocallable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $6,283,000
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| Maturity: | Aug. 7, 2025
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| Coupon: | 8.8%, paid quarterly, if each underlying index closes at or above its coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically starting Nov. 6 at par and on any subsequent quarterly review date if each index closes at or above its initial level
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| Initial levels: | 15,274.92 for Nasdaq-100 index, 1,957.463 for Russell 2000 index, 4,478.03 for S&P 500 index
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| Downside thresholds: | 11,456.19 for Nasdaq-100 index, 1,468.097 for Russell 2000 index, 3,358.523 for S&P 500 index, 75% of initial levels
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| Coupon barriers: | 11,456.19 for Nasdaq-100 index, 1,468.097 for Russell 2000 index, 3,358.523 for S&P 500 index, 75% of initial levels
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| Pricing date: | Aug. 4
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| Settlement date: | Aug. 9
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2% including a structuring fee of 0.5%
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| Cusip: | 17291RVA7
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