Published on 2/23/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $700,000 autocallable securities linked to Dow, S&P
Chicago, Feb. 23 – Citigroup Global Markets Holdings Inc. priced $700,000 of 0% autocallable securities due Jan. 22, 2026 linked to the worst performing of the Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on Jan. 16, 2025 with a premium of an 8.8% 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 17.6% premium for the final valuation date. Investors will receive par if the worst performing index but ends above the 80% barrier and lose 1% for every 1% that the worst performing index declines if it finishes below its barrier.
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: | Dow Jones industrial average and S&P 500 index
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| Amount: | $700,000
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| Maturity: | Jan. 22, 2026
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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 17.6% premium for final valuation date; par if worst performing index declines but finishes at or above its 80% barrier; otherwise, 1% loss for every 1% that worst performing index declines
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| Call: | Automatically starting on Jan. 16, 2025 with a premium of an 8.8% 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: | 37,361.12 for Dow, 4,765.98 for S&P
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| Final barriers: | 29,888.896 for Dow, 3,812.784 for S&P, 80% of initial levels
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| Pricing date: | Jan. 16
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| Settlement date: | Jan. 19
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 2.35%
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| Cusip: | 17291TMR6
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