Published on 3/26/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $550,000 8.6% autocallable contingent coupon notes on indexes
By Kiku Steinfeld
Chicago, March 26 – Citigroup Global Markets Holdings Inc. priced $550,000 of autocallable contingent coupon equity linked securities due July 3, 2025 linked to the Dow Jones industrial average, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.6% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called automatically starting Jan. 2, 2024 if the level of the worst performing index is greater than or equal to its initial level on a quarterly valuation date.
If the worst performing index finishes at or above its 60% 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, Russell 2000 index and S&P 500 index
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Amount: | $550,000
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Maturity: | July 3, 2025
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Coupon: | 8.6% paid monthly if the worst performing index closes at or above its 70% 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 starting Jan. 2, 2024 if the level of the worst performing index is greater than or equal to its initial level on a quarterly valuation date
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Initial levels: | 34,407.60 for Dow, 1,888.734 for Russell, 4,450.38 for S&P
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Coupon barriers: | 24,085.320 for Dow, 1,322.114 for Russell, 3,115.266 for S&P, 70% of initial levels
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Final barriers: | 20,644.560 for Dow, 1,133.240 for Russell, 2,670.228 for S&P, 60% of initial levels
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Pricing date: | June 30, 2023
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Settlement date: | July 6, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.45%
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Cusip: | 17291RNR9
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