Published on 4/18/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $727,000 autocallable securities linked to Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, April 18 – Citigroup Global Markets Holdings Inc. priced $727,000 of 0% autocallable securities due July 22, 2026 linked to the Nasdaq-100 index, 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 17, 2024 with a premium of an 11.5% annual rate if the worst performing index closes above its initial value on any 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 70% 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $727,000
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| Maturity: | July 22, 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 70% barrier; otherwise 1% loss for every 1% that worst performing index declines
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| Call: | Automatically starting on July 17, 2024 at 11.5% annual rate if the worst performing index closes above its initial value on any annual review date
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| Initial levels: | 15,713.28 for Nasdaq index, 1,951.269 for Russell, 4,522.79 for S&P
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| Final barriers: | 10,999.296 for Nasdaq index, 1,365.888 for Russell, 3,165.953 for S&P, 70% of initial level
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| Pricing date: | July 17, 2023
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| Settlement date: | July 20, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.95%
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| Cusip: | 17291RLZ3
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