Published on 10/29/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $987,000 6.55% autocallable contingent coupon equity notes on indexes
By Kiku Steinfeld
Chicago, Oct. 30 – Citigroup Global Markets Holdings Inc. priced $987,000 of autocallable contingent coupon equity linked securities due Oct. 3, 2024 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.
Investors will receive an annualized coupon of 6.55% paid monthly if the worst performing index closes at or above its 50% coupon barrier on the related valuation date.
The securities will be called automatically at par starting Oct. 2, 2023 if the level of the worst performing index is greater than or equal to its initial level on a quarterly valuation date.
The payout at maturity will be par unless any index closes below its initial level or ever closes below its final barrier level, in which case 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: | $987,000
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| Maturity: | Oct. 3, 2024
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| Coupon: | 6.55% paid monthly if the worst performing index closes at or above its 50% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below its initial level or ever closes below its final barrier level, in which case investors will lose 1% loss for every 1% that the worst performing index declines
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| Call: | Automatically starting Oct. 2, 2023 if the level of the worst performing index is greater than or equal to its initial level on a quarterly valuation date
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| Initial levels: | 33,274.15 for Dow, 13,181.35 for Nasdaq index, 1,802.484 for Russell
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| Coupon barriers: | 16,637.075 for Dow, 6,590.675 for Nasdaq index, 901.242 for Russell, 50% of initial levels
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| Final barriers: | 16,637.075 for Dow, 6,590.675 for Nasdaq index, 901.242 for Russell, 50% of initial levels
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| Pricing date: | March 31, 2023
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| Settlement date: | April 5, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.735%
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| Cusip: | 17330RJM8
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