Published on 4/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.4 million contingent coupon equity linked autocalls on two indexes
New York, April 10 – Citigroup Global Markets Holdings Inc. priced $1.4 million of autocallable contingent coupon equity linked securities due March 31, 2028 linked to the Dow Jones industrial average and the S&P 500 Dynamic Participation index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8% per year, 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 monthly valuation date starting March 28, 2024.
The payout at maturity will be par if the worst performing index finishes at or above 85% of initial level.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond 15%.
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: | Dow Jones industrial average and S&P 500 Dynamic Participation index
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Amount: | $1,403,000
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Maturity: | March 31, 2028
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Coupon: | 8% per year, 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 85% of initial level, par; otherwise, 1% loss for every 1% that worst performing index declines beyond 15%
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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 monthly valuation date starting March 28, 2024
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Initial levels: | 32,394.25 for Dow Jones industrial average, 644.36 for S&P 500 Dynamic Participation index
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Coupon barriers: | 24,295.688 for Dow Jones industrial average, 483.270 for S&P 500 Dynamic Participation index, 75% of initial levels
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Buffer: | 15%
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Buffer levels: | 27,535.113 for Dow Jones industrial average, 547.706 for S&P 500 Dynamic Participation index, 85% of initial levels
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Pricing date: | March 28
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Settlement date: | March 31
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.75%
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Cusip: | 17331CX69
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