Published on 10/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $502,000 7.75% autocallable contingent coupon notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Oct. 10 – Citigroup Global Markets Holdings Inc. priced $502,000 of autocallable contingent coupon equity linked securities due March 27, 2025 linked to the Nasdaq-100 index, 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 11.58% paid quarterly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date.
The securities will be called automatically at par starting Sept. 25, 2023 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 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $502,000
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| Maturity: | March 27, 2025
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| Coupon: | 11.58% paid quarterly if the worst performing index closes at or above its 85% 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 Sept. 25, 2023 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: | 12,767.05 for Nasdaq index, 1,734.923 for Russell, 3,970.99 for S&P
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| Final barrier levels: | 8,936.935 for Nasdaq index, 1,214.446 for Russell, 2,779.693 for S&P, 70% of initial levels
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| Coupon barrier levels: | 10,213.640 for Nasdaq index, 1,387.938 for Russell, 3,176.792 for S&P, 80% of initial levels
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| Pricing date: | March 24, 2023
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| Settlement date: | March 29, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.5%
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| Cusip: | 17331HAM8
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