Published on 5/1/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.75 million autocallable securities on Dow Jones industrial, S&P 500 Dynamic
New York, May 1 – Citigroup Global Markets Holdings Inc. priced $2.75 million of 0% autocallable securities due April 26, 2028 linked to the Dow Jones industrial average and S&P 500 Dynamic Participation index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on April 24, 2024 with a premium of a 10.5% annual rate if the worst performing index closes above its initial value on any monthly review date.
If the worst performing index gains or finishes flat, the payout at maturity will be par plus the premium for the final valuation date. If the worst performing index declines by up to 15%, par. 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 securities
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| Underlying indexes: | Dow Jones industrial average and S&P 500 Dynamic Participation index
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| Amount: | $2,748,000
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| Maturity: | April 26, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains or finishes flat, par plus premium for final valuation date; par if worst performing index declines by no more than its 15% buffer; otherwise 1% loss for every 1% that worst performing index declines beyond the buffer
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| Call: | Automatically starting on April 24, 2024 with a premium of a 10.5% annual rate if the worst performing index closes above its initial value on any monthly review date
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| Initial levels: | 33,808.96 for Dow Jones industrial average, 670.69 for S&P 500 Dynamic Participation index
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| Buffer: | 15%
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| Buffer level: | 28,737.616 for Dow Jones industrial average, 570.087 for S&P 500 Dynamic Participation index, 85% of initial level
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| Pricing date: | April 21
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| Settlement date: | April 26
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4%
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| Cusip: | 17331HU53
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