Published on 12/11/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $265,000 autocallable securities linked to indexes
By Kiku Steinfeld
Chicago, Dec. 11 – Citigroup Global Markets Holdings Inc. priced $265,000 of 0% autocallable securities due April 26, 2027 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 April 22, 2024 with a premium of a 10.5% 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 75% 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: | $265,000
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Maturity: | April 26, 2027
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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 75% barrier; otherwise 1% loss for every 1% that worst performing index declines
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Call: | Automatically starting on April 22, 2024 with a premium of a 10.5% annual rate if the worst performing index closes above its initial on an annual review date
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Initial levels: | 13,000.77 for Nasdaq index, 1,791.506 for Russell, 4,133.52 for S&P
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Final barriers: | 9,750.578 for Nasdaq index, 1,343.630 for Russell, 3,100.140 for S&P, 75% of initial level
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Pricing date: | April 21, 2023
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Settlement date: | April 26, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2%
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Cusip: | 17331HU95
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