Published on 9/12/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.37 million autocallable securities linked to Dow, Russell
Chicago, Sept. 12 – Citigroup Global Markets Holdings Inc. priced $1.37 million of 0% autocallable securities due Aug. 31, 2028 linked to the worst performing of the Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on Aug. 28, 2024 with a premium of a 7.25% annual rate if the worst performing index closes above its initial value and on any subsequent quarterly review date.
If the worst performing index gains the payout at maturity will be par plus the premium for the final valuation date. The payout will be par if the worst performing index declines but by no more than the 15% buffer.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond its 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 securities
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Underlying indexes: | Dow Jones industrial average and Russell 2000 index
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Amount: | $1,374,000
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Maturity: | Aug. 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 gains, par plus 36.25% premium for final valuation date; par if worst performing index declines but finishes at or above its 85% buffer; otherwise, 1% loss for every 1% that worst performing index declines beyond the buffer
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Call: | Automatically starting on Aug. 28, 2024 with a premium of a 7.25% annual rate if the worst performing index closes above its initial value and on any subsequent quarterly review date
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Initial levels: | 34,559.98 for Dow, 1,869.007 for Russell
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Buffer levels: | 29,375.983 for Dow, 1,588.656 for Russell, 85% of initial levels
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Buffer: | 15%
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Pricing date: | Aug. 28
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Settlement date: | Aug. 31
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.5%
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Cusip: | 17291RZC9
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