Published on 8/25/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $29.58 million autocallable equity-linked securities on index basket
By Wendy Van Sickle
Columbus, Ohio, Aug. 25 – Citigroup Global Markets Holdings Inc. priced $29.58 million of 0% autocallable equity-linked securities due Jan. 3, 2028 tied to an unequally-weighted index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with an 12% weight and the S&P/ASX 200 index with a 9% weight.
The notes are guaranteed by Citigroup Inc.
The securities will be automatically called at par plus a premium of 11.4%, 22.8% or 34.2% respectively if the basket closes at or above its initial level on Sept. 30, 2024, Oct. 30, 2025 and Nov. 30, 2026.
At maturity, if the basket closes at or above its initial level, the payout will be par plus 45.6%.
Otherwise, investors will have full exposure to the basket decline.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable equity-linked securities
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| Underlying funds: | Euro Stoxx 50 (36% weight), Topix (26% weight), FTSE 100 index (17% weight), Swiss Market index (12% weight) and S&P/ASX 200 index (9% weight)
|
| Amount: | $29,575,000
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| Maturity: | Jan. 3, 2028
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the basket finishes at or above initial level, par plus 45.6%; otherwise full exposure to loss
|
| Call: | At par plus 11.4%, 22.8% or 34.2% respectively if the basket closes at or above its initial level on Sept. 30, 2024, Oct. 30, 2025 and Nov. 30, 2026
|
| Initial index levels: | 4,224.87 for Stoxx, 2,241.49 for Topix, 7,257.82 for FTSE, 10,848.34 for Swiss and 7,115.47 for S&P/ASX
|
| Pricing date: | Aug. 21
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| Settlement date: | Aug. 28
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.76%
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| Cusip: | 17291Q5U4
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