Published on 4/4/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $12 million autocallable securities linked to Russell 2000, S&P 500
New York, April 4 – Citigroup Global Markets Holdings Inc. priced $12 million of 0% autocallable securities due April 2, 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 April 1, 2025 with a premium of an 11.75% annual rate if the worst performing index closes above its initial value on any quarterly 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 80% 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: | $12 million
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| Maturity: | April 2, 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 80% barrier; otherwise 1% loss for every 1% that worst performing index declines
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| Call: | Automatically starting on April 1, 2025 with a premium of 11.75% annual rate if the worst performing index closes above its initial value on any quarterly review date
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| Initial levels: | 2,114.349 for Russell 2000 index, 5,248.49 for S&P 500 index
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| Final barriers: | 1,691.479 for Russell 2000 index, 4,198.792 for S&P 500 index, 80% of initial level
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| Pricing date: | March 28
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| Settlement date: | April 3
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.25%
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| Cusip: | 17331AXC0
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