Published on 8/30/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.2 million autocallable buffer securities linked to Dow, S&P Dynamic
New York, Aug. 30 – Citigroup Global Markets Holdings Inc. priced $1.20 million of 0% autocallable buffer securities due Aug. 28, 2028 linked to the Dow Jones industrial average and the 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 13% if the worst performing index closes at or above its initial value on Aug. 26, 2024.
If the worst performing index gains, the payout at maturity will be par plus 150% of that index’s return.
Investors will receive par if the worst performing index declines by no more than 15% and will lose 1% for every 1% that the worst performing index declines beyond 15%.
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: | $1,195,000
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| Maturity: | Aug. 28, 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 that index’s return; par if worst performing index declines by no more than 15%; otherwise, 1% loss for every 1% that worst performing index declines beyond 15%
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| Call: | Automatically at a premium of 13% if the worst performing index closes at or above its initial value on Aug. 26, 2024
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| Initial levels: | 34,472.98 for Dow Jones industrial average, 740.69 for S&P 500 Dynamic Participation index
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| Buffer: | 15%
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| Buffer levels: | 29,302.033 for Dow Jones industrial average, 629.587 for S&P 500 Dynamic Participation index, 85% of initial levels
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| Pricing date: | Aug. 23
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| Settlement date: | Aug. 28
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.75%
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| Cusip: | 17291QB86
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