Published on 3/17/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.56 million autocallable securities linked to Russell, S&P
By Kiku Steinfeld
Chicago, March 18 – Citigroup Global Markets Holdings Inc. priced $1.56 million of 0% autocallable securities due July 6, 2026 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on July 2, 2024 with a premium of a 12% annual rate if the worst performing index closes above its initial value on an annual review date.
If the worst performing index gains the payout at maturity will be par plus the premium for the final valuation date. Investors will receive par if the worst performing index but ends above the 65% barrier and lose 1% for every 1% that the worst performing index declines if it finishes below its barrier.
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: | Russell 2000 index and S&P 500 index
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| Amount: | $1,562,000
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| Maturity: | July 6, 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 premium for final valuation date; par if worst performing index declines but finishes at or above its 65% barrier; otherwise 1% loss for every 1% that worst performing index declines
|
| Call: | Automatically starting on July 2, 2024 with a premium of a 12% annual rate if the worst performing index closes above its initial value on an annual review date
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| Initial levels: | 1,888.734 for Russell 2000 index, 4,450.38 for S&P 500 index
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| Final barriers: | 1,227.677 for Russell 2000 index, 2,892.747 for S&P 500 index, 65% of initial level
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| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17291R2N1
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