Published on 12/3/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.66 million autocallable securities linked to Dow, Russell
Chicago, Dec. 4 – Citigroup Global Markets Holdings Inc. priced $1.66 million of 0% autocallable securities due Nov. 30, 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 Nov. 27, 2024 with a premium of a 6.25% 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 but by no more than the 10% buffer, the payout at maturity will be par plus the 31.25% 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: | $1,657,000
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| Maturity: | Nov. 30, 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 but finishes at or above its 90% buffer, par plus 31.25% premium for final valuation date; otherwise 1% loss for every 1% that worst performing index declines beyond the buffer
|
| Call: | Automatically starting on Nov. 27, 2024 with a premium of a 6.25% annual rate if the worst performing index closes above 90% of its initial value and on any subsequent quarterly review date
|
| Initial levels: | 35,333.47 for Dow, 1,801.154 for Russell
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| Buffer level: | 31,800.123 for Dow, 1,621.039 for Russell, 90% of initial levels
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| Buffer: | 10%
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| Pricing date: | Nov. 27
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| Settlement date: | Nov. 30
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 17291TK98
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