Published on 4/1/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.08 million autocallable dual directional barrier notes on S&P
By Emma Trincal
New York, April 1 – Citigroup Global Markets Holdings Inc. priced $3,079,000 of 0% autocallable dual directional barrier securities due March 25, 2027 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 March 31, 2025.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus 126% of the index return. If the index closes below its initial level but at or above the barrier level, 60% of its initial level, the payout will be par plus 50% of the absolute value of the index. Otherwise, investors will be exposed to the decline of the index from its initial level
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 barrier securities
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| Underlying index: | S&P 500 index
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| Amount: | $3,079,000
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| Maturity: | March 25, 2027
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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 126% of index return; if index declines but does not finish below barrier level, par plus 50% of the absolute value of index return; if index finishes below barrier level, full exposure to the index decline from its initial level
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| Call: | Automatically at par plus 10% if index closes at or above initial index level on March 31, 2025
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| Initial level: | 5,234.18
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| Barrier level: | 3,140.508; 60% of initial level
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| Pricing date: | March 22
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| Settlement date: | March 27
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.1%
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| Cusip: | 17291LUT0
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