Published on 10/2/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $365,000 9.5% autocallable contingent coupon equity notes on two indexes
Chicago, Oct. 2 – Citigroup Global Markets Holdings Inc. priced $365,000 of autocallable contingent coupon equity-linked securities due Sept. 30, 2027 linked to the worst performing of the Russell 2000 index and S&P 500 Dynamic Participation index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5% paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date.
The securities will be called automatically at par starting Sept. 27, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 15% buffer. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond the buffer.
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 contingent coupon equity-linked securities
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Underlying indexes: | Russell 2000 index and S&P 500 Dynamic Participation index
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Amount: | $365,000
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Maturity: | Sept. 30, 2027
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Coupon: | 9.5% annual rate, paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If worst performing index gains or declines by no more than 15% buffer par; 1% loss for every 1% that worst performing index declines beyond buffer
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Call: | Automatically at par starting Sept. 27, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date
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Initial levels: | 1,662.509 for Russell, 509.68 for S&P Dynamic
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Coupon barriers: | 1,246.882 for Russell, 382.260 for S&P Dynamic, 75% of initial levels
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Buffer levels: | 1,413.133 for Russell, 433.228 for S&P Dynamic, 85% of initial levels
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Buffer: | 15%
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Pricing date: | Sept. 27, 2022
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Settlement date: | Sept. 30, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4%
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Cusip: | 17330R6K6
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