Published on 10/30/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.25 million contingent coupon equity linked autocallables on indexes, ETF
New York, Oct. 30 – Citigroup Global Markets Holdings Inc. priced $1.25 million of autocallable contingent coupon equity linked securities due Sept. 25, 2025 linked to the Nasdaq-100 index, the Russell 2000 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, paid monthly, if the worst performing asset closes at or above its 60% coupon barrier on the related valuation date.
The securities will be called automatically at par if the closing level of each asset is greater than or equal to its initial level on any monthly valuation date starting April 22, 2024.
If the worst performing asset finishes at or above its 60% final barrier, the payout at maturity will be par. Otherwise, investors will lose 1% loss for every 1% that the worst performing asset declines.
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 assets: | Nasdaq-100 index, Russell 2000 index and SPDR S&P Regional Banking ETF
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| Amount: | $1.25 million
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| Maturity: | Sept. 25, 2025
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| Coupon: | 11%, paid monthly if the worst performing asset closes at or above its 60% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above final barrier, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call: | Automatically at par if the closing level of each asset is greater than or equal to its initial level on any monthly valuation date starting April 22, 2024
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| Initial levels: | 14,560.88 for Nasdaq-100 index, 1,680.792 for Russell 2000 index, $39.10 for SPDR S&P Regional Banking ETF
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| Coupon barriers: | 8,736.528 for Nasdaq-100 index, 1,008.475 for Russell 2000 index, $23.460 for SPDR S&P Regional Banking ETF, 60% of initial levels
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| Final barriers: | 8,736.528 for Nasdaq-100 index, 1,008.475 for Russell 2000 index, $23.460 for SPDR S&P Regional Banking ETF, 60% of initial levels
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| Pricing date: | Oct. 20
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| Settlement date: | Oct. 25
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.375%
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| Cusip: | 17291QYB4
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