Published on 10/2/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $135,000 autocallable securities linked to Russell, S&P Dynamic
Chicago, Oct. 2 – Citigroup Global Markets Holdings Inc. priced $135,000 of 0% autocallable securities due Sept. 30, 2027 linked to the worst performing of the Russell 2000 index 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 Sept. 27, 2023 with a premium of a 9.5% annual rate if the worst performing index closes above its initial value and on any subsequent quarterly review date.
If the worst performing index gains the payout at maturity will be par plus the 47.5% premium for the final valuation date. The payout will be par if the worst performing index declines but by no more than the 20% buffer.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond its 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 securities
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| Underlying indexes: | Russell 2000 index and S&P 500 Dynamic Participation index
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| Amount: | $135,000
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| Maturity: | Sept. 30, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains, par plus 47.5% premium for final valuation date; par if worst performing index declines but finishes at or above its 80% buffer; otherwise, 1% loss for every 1% that worst performing index declines beyond the buffer
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| Call: | Automatically starting on Sept. 27, 2023 with a premium of a 9.5% annual rate if the worst performing index closes above its initial value and on any subsequent quarterly review date
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| Initial levels: | 1,662.509 for Russell, 509.68 for S&P Dynamic
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| Buffer levels: | 1,330.007 for Russell, 407.744 for S&P Dynamic, 80% of initial levels
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| Buffer: | 20%
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| Pricing date: | Sept. 27, 2022
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| Settlement date: | Sept. 30, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4%
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| Cusip: | 17330R6Y6
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