Published on 8/23/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.28 million contingent coupon equity linked autocalls on two indexes
New York, Aug. 23 – Citigroup Global Markets Holdings Inc. priced $1.28 million of autocallable contingent coupon equity linked securities due Aug. 21, 2028 linked to the Russell 2000 index 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 8.25%, 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 at par if the closing level of the worst performing index is greater than or equal to its initial level on any quarterly valuation date starting Aug. 16, 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: | Russell 2000 index and S&P 500 Dynamic Participation index
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| Amount: | $1,275,000
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| Maturity: | Aug. 21, 2028
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| Coupon: | 8.25%, 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 finishes at or above buffer level, par; otherwise, 1% loss for every 1% that worst performing index declines beyond buffer
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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 quarterly valuation date starting Aug. 16, 2024
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| Initial levels: | 1,871.519 for Russell 2000 index, 732.96 for S&P 500 Dynamic Participation index
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| Coupon barriers: | 1,590.791 for Russell 2000 index, 623.016 for S&P 500 Dynamic Participation index, 85% of initial levels
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| Buffer: | 15%
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| Buffer levels: | 1,590.791 for Russell 2000 index, 623.016 for S&P 500 Dynamic Participation index, 85% of initial levels
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| Pricing date: | Aug. 16
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| Settlement date: | Aug. 21
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4%
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| Cusip: | 17291Q7J7
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