Published on 6/24/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $678,000 autocallable barrier securities linked to Russell, S&P
By Kiku Steinfeld
Chicago, June 26 – Citigroup Global Markets Holdings Inc. priced $678,000 of 0% autocallable barrier securities due Feb. 3, 2028 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains, the payout will be par plus 142% of the worst performing index return. Investors will receive par if the worst performing index declines but ends at or above its 70% final barrier and they will lose 1% for every 1% that the worst performing index declines if it finishes below the final barrier.
The notes will be called automatically at a premium of 20% if the worst performing index closes above its initial value on Jan. 31, 2024.
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 barrier securities
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $678,000
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Maturity: | Feb. 3, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its initial value, par plus 142% of the worst performing index return; if worst performing index declines but finishes at or above its 70% final barrier, par; 1% loss for every 1% that worst performing index declines if it finishes below its final barrier
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Initial levels: | 1,931.945 for Russell 2000 index, 4,076.60 for S&P 500 index
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Final barriers: | 1,352.362 for Russell 2000 index, 2,853.620 for S&P 500 index, 70% of initial level
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Call: | Automatically at a premium of 20% if the worst performing index closes above its initial value on Jan. 31, 2024
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Upside leverage: | 142%
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Pricing date: | Jan. 31, 2023
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Settlement date: | Feb. 3, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.125%
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Cusip: | 17331CCZ8
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