Published on 10/16/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.72 million 8.6% contingent coupon autocalls on Russell, S&P 500 Dynamic
New York, Oct. 16 – Citigroup Global Markets Holdings Inc. priced $1.72 million of autocallable contingent coupon equity linked securities due Oct. 13, 2028 linked to the Russell 2000 index and S&P 500 Dynamic Participation index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.6% 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 starting Oct. 10, 2024 if the price of the worst performing index is greater than or equal to its initial price on any quarterly valuation date.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 15% 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: | Russell 2000 index and S&P 500 Dynamic Participation index
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| Amount: | $1,721,000
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| Maturity: | Oct. 13, 2028
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| Coupon: | 8.6% 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 gains or declines by no more than 15% buffer par; 1% loss for every 1% that worst performing index declines beyond buffer
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| Call: | Automatically starting Oct. 10, 2024 if the price of the worst performing index is greater than or equal to its initial price on any quarterly valuation date
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| Initial levels: | 1,775.946 for Russell 2000 index, 715.34 for S&P 500 Dynamic Participation index
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| Coupon barriers: | 1,331.960 for Russell 2000 index, 536.505 for S&P 500 Dynamic Participation index, 75% of initial levels
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| Buffer: | 15%
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| Buffer levels: | 1,509.554 for Russell 2000 index, 608.039 for S&P 500 Dynamic Participation index, 85% of initial levels
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| Pricing date: | Oct. 10
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| Settlement date: | Oct. 13
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.75%
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| Cusip: | 17291QW67
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