Published on 8/15/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.57 million 7.05% contingent coupon autocalls on Dow, Russell, S&P
By Kiku Steinfeld
Chicago, Aug. 15 – Citigroup Global Markets Holdings Inc. priced $1.57 million of autocallable contingent coupon equity linked securities due Feb. 27, 2025 linked to the Dow Jones industrial average, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.05% paid monthly if the worst performing index closes at or above its 60% coupon barrier on the related valuation date.
The securities will be called automatically starting Aug. 24, 2023 if each index closes at or above its initial level on a monthly valuation date.
If the worst performing index 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 index 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 indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $1,567,000
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| Maturity: | Feb. 27, 2025
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| Coupon: | 7.05% paid monthly if the worst performing index 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 index finishes at or above final barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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| Call: | Automatically starting Aug. 24, 2023 if each index closes at or above its initial level on a monthly valuation date
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| Initial levels: | 32,816.92 for Dow, 1,890.485 for Russell, 3,970.04 for S&P
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| Coupon barriers: | 19,690.152 for Dow, 1,134.291 for Russell, 2,382.024 for S&P, 60% of initial levels
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| Final barriers: | 19,690.152 for Dow, 1,134.291 for Russell, 2,382.024 for S&P, 60% of initial levels
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| Pricing date: | Feb. 24, 2023
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| Settlement date: | March 1, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.2%
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| Cusip: | 17331CMX2
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