Published on 1/6/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $706,000 autocallable barrier securities linked to Russell 2000, S&P 500
By Kiku Steinfeld
Chicago, Jan. 8 – Citigroup Global Markets Holdings Inc. priced $706,000 of 0% autocallable barrier securities due April 30, 2026 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains the payout will be par plus 300% of the worst performing index return. Investors will receive par if the worst performing index declines but ends at or above its 80% final barrier and they will lose 1% for every 1% that the worst performing index declines if it finishes below the final barrier.
The notes will be called automatically at a premium of 8% if the worst performing index closes above its initial value on April 25, 2024.
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 barrier securities
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $706,000
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Maturity: | April 30, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its initial value, par plus 300% of the worst performing index return; if worst performing index declines but finishes at or above its 80% final barrier, par; 1% loss for every 1% that worst performing index declines if it finishes below its final barrier
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Initial levels: | 1,745.952 for Russell 2000 index, 4,071.63 for S&P 500 index
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Final barriers: | 1,396.762 for Russell 2000 index, 3,257.304 for S&P 500 index, 80% of initial level
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Call: | Automatically at a premium of 8% if the worst performing index closes above its initial value on April 25, 2024
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Upside leverage: | 300%
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Pricing date: | April 25, 2023
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Settlement date: | April 28, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.2%
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Cusip: | 17331HUD6
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