Published on 1/17/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $472,000 autocallables linked to Dow, S&P 500 Dynamic
New York, Jan. 17 – Citigroup Global Markets Holdings Inc. priced $472,000 of 0% autocallable securities due May 3, 2028 linked to the Dow Jones industrial average and S&P 500 Dynamic Participation index, according to a 424B2 filing with the Securities and Exchange Commission.
Starting on May 1, 2024, the securities will be called automatically at par plus 10% per year if the worst performing index closes at or above its initial level on any 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 S&P 500 Dynamic Participation index
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| Amount: | $472,000
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| Maturity: | May 3, 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 premium for final valuation date; par if worst performing index declines but finishes at or above its 85% buffer level; otherwise, 1% loss for every 1% that worst performing index declines beyond the buffer
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| Call: | Starting on May 1, 2024, automatically at par plus 10% per year if the worst performing index closes at or above its initial level on any quarterly review date
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| Initial levels: | 34,098.16 for Dow Jones industrial average, 686.30 for S&P 500 Dynamic Participation index
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| Buffer: | 15%
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| Buffer levels: | 28,983.436 for Dow Jones industrial average, 583.355 for S&P 500 Dynamic Participation index, 85% of initial level
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| Pricing date: | April 28, 2023
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| Settlement date: | May 3, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4%
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| Cusip: | 17331HVW3
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