Published on 2/12/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $311,000 7% autocallable contingent coupon notes on indexes
Chicago, Feb. 12 – Citigroup Global Markets Holdings Inc. priced $311,000 of autocallable contingent coupon equity-linked securities due May 29, 2026 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7% paid monthly if the worst performing index closes at or above its 85% coupon barrier on the related valuation date.
The securities will be called automatically at par starting May 28, 2024 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 15% buffer. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond the 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 contingent coupon equity-linked securities
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $311,000
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| Maturity: | May 29, 2026
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| Coupon: | 7% annual rate, paid monthly if the worst performing index closes at or above its 85% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing index gains or declines by no more than 15% buffer par; 1% loss for every 1% that worst performing index declines beyond buffer
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| Call: | Automatically at par starting May 28, 2024 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date
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| Initial levels: | 1,754.605 for Russell, 4,151.28 for S&P
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| Coupon barriers: | 1,491.414 for Russell, 3,528.588 for S&P, 85% of initial levels
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| Buffer levels: | 1,491.414 for Russell, 3,528.588 for S&P, 85% of initial levels
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| Buffer: | 15%
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| Pricing date: | May 25, 2023
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| Settlement date: | May 31, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.6%
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| Cusip: | 17331HPP5
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