Published on 12/28/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.48 million autocallable securities linked to S&P, Russell
By William Gullotti
Buffalo, N.Y., Dec. 28 – Citigroup Global Markets Holdings Inc. priced $1.48 million of 0% autocallable securities due Dec. 26, 2028 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus 8% if the worst performing index closes at or above its initial level on Dec. 23, 2024.
If the worst performing index finishes flat or gains, the payout at maturity will be par plus 38%.
The payout will be par if the worst performing index declines by no more than 20%. Otherwise, investors will lose 1% for every 1% that the worst performing index declines from its initial level.
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: | S&P 500 index and Russell 2000 index
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| Amount: | $1,481,000
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| Maturity: | Dec. 26, 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 38%; par if worst performing index declines but finishes at or above its 80% trigger; otherwise, 1% loss for every 1% that worst performing index declines from initial level
|
| Call: | Automatically at par plus 8% if the worst performing index closes at or above its initial level on Dec. 23, 2024
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| Initial levels: | 4,698.35 for S&P, 1,982.836 for Russell
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| Trigger levels: | 3,758.68 for S&P, 1,586.269 for Russell; 80% of initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 26
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.25%
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| Cusip: | 17291T4T2
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