Published on 2/15/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.62 million autocallables linked to Dow, Russell
New York, Feb. 15 – Citigroup Global Markets Holdings Inc. priced $2.62 million of 0% autocallable securities due June 30, 2028 linked to the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Starting on June 27, 2024, the securities will be called automatically at par plus a premium of 6.25% per year if the worst performing index closes above 90% of its initial value on any 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 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: | $2,617,000
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| Maturity: | June 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 finishes at or above its 90% buffer level, par plus premium for final valuation date; otherwise 1% loss for every 1% that worst performing index declines beyond the buffer
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| Call: | Starting on June 27, 2024, automatically at par plus a premium of 6.25% per year if the worst performing index closes above 90% of its initial value on any quarterly review date
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| Initial levels: | 33,926.74 for Dow Jones industrial average, 1,849.930 for Russell 2000 index
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| Buffer: | 10%
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| Buffer levels: | 30,534.066 for Dow Jones industrial average, 1,664.937 for Russell 2000 index, 90% of initial levels
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| Pricing date: | June 27, 2023
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| Settlement date: | June 30, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17291RCQ3
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