Published on 2/7/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $750,000 autocallable securities on Nasdaq, Russell, S&P
New York, Feb. 7 – Citigroup Global Markets Holdings Inc. priced $750,000 of 0% autocallable securities due May 23, 2028 linked to the worst performing of 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 at par plus the 10.6% annualized premium if the closing value of the worst performing index is greater than or equal to the initial value on any annual call observation date.
If the worst performing index finishes at or its initial level and at or above its final barrier the payout at maturity will be par plus the final 53% call premium. If the worst performing index finishes below its initial level and at or above its final 65% barrier, the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing index declines from its initial level.
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: | $750,000
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| Coupon: | 0%
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| Maturity: | May 23, 2028
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or its initial level and at or above its final barrier, par plus the 53%; if worst performing index finishes below its initial level and at or above its final barrier, par; otherwise, investors will lose 1% loss for every 1% that the worst performing index declines from initial level
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| Call: | Automatically at par plus annualized 10.6% premium if the closing value of the worst performing underlying is greater than or equal to the initial value on any annual call observation date
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| Initial levels: | 13,834.62 for Nasdaq, 1,784.856 for Russell, 4,198.05 for S&P
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| Final barriers: | 8,992.503 for Nasdaq, 1,160.156 for Russell, 2,728.733 for S&P, 65% of initial levels
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| Pricing date: | May 18, 2023
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| Settlement date: | May 23, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.125%
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| Cusip: | 17331HUK0
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