Published on 2/5/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $40,000 9.85% autocallable phoenix securities linked to S&P
Chicago, Feb. 5 – Citigroup Global Markets Holdings Inc. priced $40,000 of 9.85% autocallable phoenix securities due May 30, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly coupon of 9.85% if the index closes at or above its 80% coupon barrier on the related valuation date, plus any previously unpaid coupons.
They will be called automatically starting Aug. 25, 2023 at par if the level of the index is greater than or equal to its initial level and on any subsequent quarterly review date.
The payout at maturity will be par if the index finishes at or above its 80% final barrier. Otherwise, investors will be exposed to the decline of the index.
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 phoenix securities
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| Underlying index: | S&P 500 index
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| Amount: | $40,000
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| Maturity: | May 30, 2024
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| Coupon: | 9.85% annual rate, if the index closes at or above its 80% coupon barrier on the related quarterly valuation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If index finishes at or above final barrier par; if index finishes below the final barrier investors will be exposed to the decline of index
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| Call: | Automatically starting Aug. 25, 2023 at par if the level of the index is greater than or equal to its initial level and on any subsequent quarterly review date
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| Initial level: | 4,124.08
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| Coupon barrier: | 3,299.264, 80% of initial level
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| Final barrier: | 3,299.264, 80% of initial level
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| Pricing date: | May 12, 2023
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| Settlement date: | May 17, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17331HQ58
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