Published on 2/8/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $775,000 autocallable contingent coupon equity notes on Dow, S&P
Chicago, Feb. 8 – Citigroup Global Markets Holdings Inc. priced $775,000 of autocallable contingent coupon equity-linked securities due May 24, 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.
Investors will receive a coupon of 6.8% paid quarterly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date.
The securities will be called automatically starting after one year if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date.
If the worst performing index finishes at or above its 70% 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 and S&P 500 index
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| Amount: | $775,000
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| Maturity: | May 24, 2028
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| Coupon: | 6.8% annual rate, paid quarterly if the worst performing index closes at or above its 75% 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 at par starting after one year if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date
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| Initial levels: | 33,426.63 for Dow, 4,191.98 for S&P
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| Coupon barriers: | 25,069.973 for Dow, 3,143.985 for S&P, 75% of initial levels
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| Final barriers: | 23,398.641 for Dow, 2,934.386 for S&P, 70% of initial levels
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| Pricing date: | May 19, 2023
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| Settlement date: | May 24, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17331HNH5
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