Published on 8/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.01 million autocallable buffer securities on Dow, S&P Dynamic
Chicago, Aug. 10 – Citigroup Global Markets Holdings Inc. priced $1.01 million of 0% autocallable buffer securities due July 31, 2028 linked to the worst performing of the Dow Jones industrial average and S&P 500 Dynamic Participation index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at a premium of 11.8% if the worst performing index closes above its initial value on July 29, 2024.
If the worst performing index gains the payout will be par plus 150% of its return. Investors will receive par if the worst performing index declines but ends at or above its 15% buffer and they 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 buffer securities
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| Underlying indexes: | Dow Jones industrial average and S&P 500 Dynamic Participation index
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| Amount: | $1,011,000
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| Maturity: | July 31, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its initial value, par plus 150% of its return; par if worst performing index declines but finishes at or above its 15% buffer; 1% loss for every 1% that worst performing index declines beyond buffer
|
| Call: | Automatically at a premium of 11.8% if the worst performing index closes above its initial value on July 29, 2024
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| Initial levels: | 35,282.72 for Dow, 760.54 for Dynamic Participation index
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| Buffer levels: | 29,990.312 for Dow, 646.459 for Dynamic Participation index, 85% of initial levels
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| Upside leverage: | 150%
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| Buffer: | 15%
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| Pricing date: | July 27
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| Settlement date: | July 31
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.75%
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| Cusip: | 17291RKN1
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