Published on 5/3/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.32 million autocallable securities linked to stocks
Chicago, May 3 – Citigroup Global Markets Holdings Inc. priced $2.32 million of 0% autocallable securities due May 1, 2028 linked to the worst performing of the common stocks of Advanced Micro Devices, Inc., Apple Inc. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting April 29, 2025 with a 25.5% annualized premium and on any subsequent monthly review date if all three stocks have closed above 90% of their initial level on at least one monthly valuation date.
The maturity date premium is 102%.
If at least one stock has not closed above 90% of its initial level on any of the monthly valuation dates, but all three stocks close above the 60% downside barrier, then investors will receive par.
Otherwise, investors will be fully exposed to the losses of the worst performer.
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 stocks: | Advanced Micro Devices, Inc., Apple Inc. and Nvidia Corp.
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| Amount: | $2,324,000
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| Maturity: | May 1, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 102% if all three stocks have each closed at least once on monthly valuation date above 90% of initial level; if not, and all three close above 60% downside barrier, par; otherwise, full exposure to losses of worst performer
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| Call: | Automatically at par plus 25.5% annualized premium starting April 29, 2025 and on any subsequent monthly review date if all three stocks close above 90% of initial levels on at least one monthly valuation date
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| Initial levels: | $157.40 for AMD, $169.30 for Apple, $877.35 for Nvidia
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| Premium barrier values: | $141.660 for AMD, $152.370 for Apple, $789.615 for Nvidia; 90% of initial levels
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| Downside barrier values: | $94.44 for AMD, $101.58 for Apple, $526.41 for Nvidia; 60% of initial levels
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| Pricing date: | April 26
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| Settlement date: | May 1
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17331UDE4
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