Published on 9/12/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $6.38 million autocallable securities linked to Stoxx, Russell
Chicago, Sept. 12 – Citigroup Global Markets Holdings Inc. priced $6.38 million of 0% autocallable securities due Sept. 6, 2028 linked to the worst performing of the Euro Stoxx 50 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on Feb. 29, 2024 with a premium of a 10% annual rate if the worst performing index closes above its initial value and on any subsequent monthly review date.
If the worst performing index gains the payout at maturity will be par plus the 50% premium for the final valuation date. Investors will receive par if the worst performing index but ends above the 75% barrier and lose 1% for every 1% that the worst performing index declines if it finishes below its 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 securities
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| Underlying indexes: | Euro Stoxx 50 index and Russell 2000 index
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| Amount: | $6,376,000
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| Maturity: | Sept. 6, 2028
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its initial value, par plus 50% premium for final valuation date; par if worst performing index declines but finishes at or above its 75% barrier; otherwise, 1% loss for every 1% that worst performing index declines
|
| Call: | Automatically starting on Feb. 29, 2024 with a premium of a 10% annual rate if the worst performing index closes above its initial value and on any subsequent monthly review date
|
| Initial levels: | 4,326.47 for Stoxx, 1,895.538 for Russell
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| Final barriers: | 3,244.853 for Stoxx, 1,421.654 for Russell, 75% of initial levels
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| Pricing date: | Aug. 29
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| Settlement date: | Aug. 31
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.85%
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| Cusip: | 17291QR48
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