Published on 1/23/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $132,000 9.5% autocallable contingent coupon notes linked to Russell, S&P
New York, Jan. 23 – Citigroup Global Markets Holdings Inc. priced $132,000 of autocallable contingent coupon equity linked securities due May 1, 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 9.5% paid monthly if the worst performing index closes at or above its 85% coupon barrier on the related valuation date.
The securities will be called automatically if the closing level of the worst performing index is greater than or equal to its initial level on any monthly valuation date starting April 29, 2024.
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: | $132,000
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| Maturity: | May 1, 2026
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| Coupon: | 9.5% paid monthly 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 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 if the closing level of the worst performing index is greater than or equal to its initial level on any monthly valuation date starting April 29, 2024
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| Initial levels: | 1,768.987 for Russell 2000, 4,169.48 for S&P 500
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| Coupon barriers: | 1,503.639 for Russell 2000, 3,544.058 for S&P 500, 85% of initial levels
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| Buffer levels: | 1,503.639 for Russell 2000, 3,544.058 for S&P 500, 85% of initial levels
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| Buffer: | 15%
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| Pricing date: | April 28, 2023
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| Settlement date: | May 3, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.6%
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| Cusip: | 17331HRS7
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