Published on 12/11/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $601,000 autocallable barrier securities linked to Dow, S&P
Chicago, Dec. 11 – Citigroup Global Markets Holdings Inc. priced $601,000 of 0% autocallable barrier securities due May 9, 2028 linked to the worst performing of the Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at a premium of 13.65% if the worst performing index closes above its initial value on May 7, 2024.
If the worst performing index gains the payout will be par plus 170% of the worst performing index return. Investors will receive par if the worst performing index declines but ends at or above its 70% final barrier and they will lose 1% for every 1% that the worst performing index declines if it finishes below the final barrier.
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 barrier securities
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| Underlying indexes: | Dow Jones industrial average and S&P 500 index
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| Amount: | $601,000
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| Maturity: | May 9, 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 170% of the worst performing index return; if worst performing index declines but finishes at or above its 70% final barrier, par; 1% loss for every 1% that worst performing index declines if it finishes below its final barrier
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| Call: | Automatically at a premium of 13.65% if the worst performing index closes above its initial value on May 7, 2024
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| Initial levels: | 33,127.74 for Dow, 4,061.22 for S&P
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| Final barriers: | 23,189.418 for Dow, 2,842.854 for S&P, 70% of initial levels
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| Upside leverage: | 170%
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| Pricing date: | May 4, 2023
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| Settlement date: | May 9, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.75%
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| Cusip: | 17331HMS2
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