Published on 8/18/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.8 million autocallable securities linked to two indexes, SPDR ETF
New York, Aug. 18 – Citigroup Global Markets Holdings Inc. priced $1.8 million of 0% autocallable securities due Aug. 18, 2028 linked to the Dow Jones industrial average, the S&P 500 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus a 14.1% annualized premium if the worst performing asset closes at or above its call level, 92% of initial level, on any quarterly review date starting on Aug. 12, 2024.
If the worst performing asset finishes at or above its call level, the payout at maturity will be par plus the premium for the final valuation date.
Investors will receive par if the worst performing asset finishes below its call level but at or above the 75% barrier and lose 1% for every 1% that the worst performing asset 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 assets: | Dow Jones industrial average, S&P 500 index and SPDR S&P Regional Banking ETF
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| Amount: | $1.8 million
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| Maturity: | Aug. 18, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its call level, par plus premium for final valuation date; par if worst performing asset finishes below call level but at or above 75% barrier; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call: | Automatically at par plus a 14.1% annualized premium if the worst performing asset closes at or above its call level on any quarterly review date starting on Aug. 12, 2024
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| Initial levels: | 35,281.40 for Dow Jones industrial average, 4,464.05 for S&P 500 index, $47.79 for SPDR S&P Regional Banking ETF
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| Call levels: | 32,458.888 for Dow Jones industrial average, 4,106.926 for S&P 500 index, $43.967 for SPDR S&P Regional Banking ETF, 92% of initial levels
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| Final barriers: | 26,461.050 for Dow Jones industrial average, 3,348.038 for S&P 500 index, $35.843 for SPDR S&P Regional Banking ETF, 75% of initial levels
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| Pricing date: | Aug. 11
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| Settlement date: | Aug. 18
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17291Q4S0
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