Published on 9/25/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.01 million autocallable securities linked to Nasdaq-100, S&P 500
New York, Sept. 25 – Citigroup Global Markets Holdings Inc. priced $2.01 million of 0% autocallable securities due Sept. 22, 2028 linked to the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus an 8.4% annualized call premium if the worst performing index closes at or above its initial level on any quarterly review date starting on Sept. 19, 2024.
If the worst performing index finishes flat or 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 declines but ends at or above the 90% 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 and S&P 500 index
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Amount: | $2,011,000
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Maturity: | Sept. 22, 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 initial value, par plus premium for final valuation date; par if worst performing index declines but finishes at or above its 90% barrier; otherwise 1% loss for every 1% that worst performing index declines from initial level
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Call: | Automatically at par plus an 8.4% annualized call premium if the worst performing index closes at or above its initial level on any quarterly review date starting on Sept. 19, 2024
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Initial levels: | 15,191.23 for Nasdaq-100 index, 4,443.95 for S&P 500 index
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Final barriers: | 13,672.107 for Nasdaq-100 index, 3,999.555 for S&P 500 index, 90% of initial level
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Pricing date: | Sept. 19
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Settlement date: | Sept. 22
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.1%
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Cusip: | 17291QG73
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