Published on 8/23/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.4 million autocallable securities linked to Russell, S&P Dynamic
New York, Aug. 23 – Citigroup Global Markets Holdings Inc. priced $1.4 million of 0% autocallable securities due Aug. 21, 2028 linked to the Russell 2000 index and the S&P 500 Dynamic Participation index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus an annualized 9% call premium if the worst performing index closes at or above its initial value on any quarterly review date starting on Aug. 19, 2024.
If the worst performing index finishes flat or gains, the payout at maturity will be par plus the premium for the final valuation date.
The payout will be par if the worst performing index declines by no more than 15%. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond 15%.
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: | Russell 2000 index and S&P 500 Dynamic Participation index
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| Amount: | $1,397,000
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| Maturity: | Aug. 21, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes flat or gains, par plus premium for final valuation date; par if worst performing index declines but finishes at or above its 85% buffer; otherwise, 1% loss for every 1% that worst performing index declines beyond 15%
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| Call: | Automatically at par plus an annualized 9% call premium if the worst performing index closes at or above its initial value on any quarterly review date starting on Aug. 19, 2024
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| Initial levels: | 1,871.519 for Russell 2000 index, 732.96 for S&P 500 Dynamic Participation index
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| Buffer: | 15%
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| Buffer levels: | 1,590.791 for Russell 2000 index, 623.016 for S&P 500 Dynamic Participation index, 85% of initial levels
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| Pricing date: | Aug. 16
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| Settlement date: | Aug. 21
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4%
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| Cusip: | 17291Q5Z3
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