Published on 5/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.73 million contingent coupon equity linked autocalls on three indexes
New York, May 24 – Citigroup Global Markets Holdings Inc. priced $2.73 million of autocallable contingent coupon equity linked securities due May 23, 2028 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.75%, paid monthly, if the worst performing index closes at or above its 75% coupon barrier on the related valuation date.
The securities will be called automatically at par if the closing level of the worst performing index is greater than or equal to its initial level on any quarterly valuation date starting May 20, 2024.
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: | $2,725,000
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Maturity: | May 23, 2028
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Coupon: | 7.75%, paid monthly 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; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Call: | Automatically at par if the closing level of the worst performing index is greater than or equal to its initial level on any quarterly valuation date starting May 20, 2024
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Initial levels: | 13,834.62 for Nasdaq-100 index, 1,784.856 for Russell 2000 index, 4,198.05 for S&P 500 index
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Coupon barriers: | 10,375.965 for Nasdaq-100 index, 1,338.642 for Russell 2000 index, 3,148.538 for S&P 500 index, 75% of initial levels
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Final barriers: | 9,684.234 for Nasdaq-100 index, 1,249.399 for Russell 2000 index, 2,938.635 for S&P 500 index, 70% of initial levels
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Pricing date: | May 18
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Settlement date: | May 23
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17331HPG5
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