Published on 3/8/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.51 million contingent coupon equity linked autocalls on two indexes
New York, March 8 – Citigroup Global Markets Holdings Inc. priced $2.51 million of autocallable contingent coupon equity linked securities due Feb. 28, 2029 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 6.82%, paid monthly, if the worst performing index closes at or above its 80% 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 Feb. 24, 2025.
The payout at maturity will be par if the worst performing index finishes at or above 85% of its 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: | $2,507,000
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| Maturity: | Feb. 28, 2029
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| Coupon: | 6.82%, paid monthly if the worst performing index closes at or above its 80% 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 quarterly valuation date starting Feb. 24, 2025
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| Initial levels: | 39,131.53 for Dow Jones industrial average, 833.19 for S&P 500 Dynamic Participation index
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| Coupon barriers: | 31,305.224 for Dow Jones industrial average, 666.552 for S&P 500 Dynamic Participation index, 80% of initial levels
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| Buffer: | 15%
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| Buffer levels: | 33,261.801 for Dow Jones industrial average, 708.212 for S&P 500 Dynamic Participation index, 85% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.65%
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| Cusip: | 17291LBP9
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