Published on 3/20/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $517,000 autocallable dual directional notes linked to S&P
By Angela McDaniels
Tacoma, Wash., March 20 – Citigroup Global Markets Holdings Inc. priced $517,000 of 0% autocallable dual directional market-linked notes due July 6, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 10% if the index closes at or above the initial index level on Dec. 30, 2024.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus 150% of the index return. If the index declines by up to 20%, the payout will be par plus the absolute value of the index return. If the index declines by more than 20%, the payout will be par.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable dual directional market-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $517,000
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| Maturity: | July 6, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final index level is greater than or equal to initial index level, par plus 150% of index return; if index declines but does not finish below barrier level, par plus absolute value of index return; if index finishes below barrier level, par
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| Call: | Automatically at par plus 10% if index closes at or above initial index level on Dec. 30, 2024
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| Initial level: | 4,450.38
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| Barrier level: | 80% of initial level
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| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17291R6B3
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