Published on 6/16/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $476,000 11% contingent coupon autocallables on Russell, S&P
By Kiku Steinfeld
Chicago, June 16 – Citigroup Global Markets Holdings Inc. priced $476,000 of autocallable contingent coupon equity linked securities due Feb. 5, 2026 linked to the 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% paid monthly if the worst performing index closes at or above its 85% coupon barrier level on the related valuation date.
The securities will be called automatically starting Jan. 31, 2024 at par if the level of the worst performing index is greater than or equal to its initial level on any monthly valuation date.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 15% buffer. Otherwise investors will lose 1% for every 1% that the worst performing index declines beyond the buffer.
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: | Russell 2000 index and S&P 500 index
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| Amount: | $476,000
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| Maturity: | Feb. 5, 2026
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| Coupon: | 11% paid monthly if the worst performing index closes at or above its 85% coupon barrier level on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing index gains or declines by no more than 15% buffer par; 1% loss for every 1% that worst performing index declines beyond buffer
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| Call: | Automatically starting Jan. 31, 2024 at par if the level of the worst performing index is greater than or equal to its initial level on any monthly valuation date
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| Initial levels: | 1,931.945 for Russell, 4,076.60 for S&P
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| Coupon barrier levels: | 1,642.153 for Russell, 3,465.11 for S&P, 85% of initial levels
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| Buffers: | 15%
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| Buffer levels: | 1,642.153 for Russell, 3,465.11 for S&P, 85% of initial levels
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| Pricing date: | Jan. 31, 2023
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| Settlement date: | Feb. 3, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.6%
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| Cusip: | 17331CGZ4
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