Published on 10/9/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.92 million market-linked autocalls on three indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 9 – Citigroup Global Markets Holdings Inc. sold $3.92 million of 0% market-linked autocallable securities with contingent downside due Oct. 4, 2027 linked to the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will be automatically called at par plus at 10.92% annualized call premium if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par if each index finishes at or above 60% threshold level.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Market-linked securities — autocallable with contingent contingent downside
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $3,915,000
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| Maturity: | Oct. 4, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par if each index finishes at or above threshold level; otherwise, full exposure to decline of worst performer from initial level
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| Call: | Automatically at par plus at 10.92% annualized call premium if each index closes at or above initial levels on any quarterly observation date after one year
|
| Initial levels: | 4,288.05 for S&P, 1,785.102 for Russell, 14,715.24 for Nasdaq
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| Threshold levels: | 2,572.83 for S&P, 1,071.0612 for Russell, 8,829.144 for Nasdaq; 60% of initial levels
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 4
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| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
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| Fees: | 2.575%
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| Cusip: | 17291QFW9
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