Published on 5/2/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $19.46 million 5.8% autocallable contingent coupon notes on indexes
New York, May 2 – Citigroup Global Markets Holdings Inc. priced $19.46 million of autocallable contingent coupon equity linked securities due April 30, 2025 linked to the Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 5.8% paid quarterly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date.
The securities will be called automatically starting Oct. 26, 2023 and on any subsequent quarterly valuation date if each index closes at or above its initial level.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 25% 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: | Nasdaq-100 index and Russell 2000 index
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| Amount: | $19,463,000
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| Maturity: | April 30, 2025
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| Coupon: | 5.8% paid quarterly 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 gains or declines by no more than 25% buffer par; 1% loss for every 1% that worst performing index declines beyond buffer
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| Call: | Automatically starting Oct. 26, 2023 and on any subsequent quarterly valuation date if each index closes at or above initial level
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| Initial levels: | 12,806.48 for Nasdaq-100 index, 1,730.411 for Russell 2000 index
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| Coupon barriers: | 9,604.860 for Nasdaq-100 index, 1,297.808 for Russell 2000 index, 75% of initial levels
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| Buffer: | 25%
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| Buffer levels: | 9,604.86 for Nasdaq-100 index, 1,297.808 for Russell 2000 index, 75% of initial levels
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| Pricing date: | April 26
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| Settlement date: | April 28
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.75%
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| Cusip: | 17331HVL7
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