Published on 4/11/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.33 million autocallable barrier securities on Nasdaq, Russell, S&P
New York, April 11 – Citigroup Global Markets Holdings Inc. priced $1.33 million of 0% autocallable barrier securities due April 2, 2025 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at par plus 12% if the worst performing index closes at or above its initial value on March 28, 2024.
If the worst performing index gains, the payout will be par plus 125% of that index’s return.
Investors will receive par if the worst performing index declines but ends at or above its 60% final barrier and will lose 1% for every 1% that the worst performing index declines if it finishes below the final 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 barrier securities
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $1,332,000
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Maturity: | April 2, 2025
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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 125% of that index return; if worst performing index declines but finishes at or above its 60% final barrier, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Call: | Automatically at par plus 12% if the worst performing index closes at or above its initial value on March 28, 2024
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Initial levels: | 12,610.57 for Nasdaq-100 index, 1,752.632 for Russell 2000 index, 3,971.27 for S&P 500 index
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Final barriers: | 7,566.342 for Nasdaq-100 index, 1,051.579 for Russell 2000 index, 2,382.762 for S&P 500 index, 60% of initial level
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Upside leverage: | 125%
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Pricing date: | March 28
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Settlement date: | March 31
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.75%
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Cusip: | 17331CUK1
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