Published on 6/5/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $318,000 autocallable securities on Dow, Russell
By Kiku Steinfeld
Chicago, June 5 – Citigroup Global Markets Holdings Inc. priced $318,000 of 0% autocallable securities due Jan. 31, 2028 linked to the Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on Jan. 29, 2024 with a premium of a 9% annual rate if the worst performing index closes above its initial value on any quarterly review date.
If the worst performing index gains or declines by no more than its 15% buffer, the payout at maturity will be par plus 45%. Otherwise investors will lose 1% for every 1% that the worst performing index declines beyond its buffer.
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 Russell 2000 index
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| Amount: | $318,000
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| Maturity: | Jan. 31, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains, par plus 45%; par if worst performing index declines but finishes at or above its 85% buffer; otherwise 1% loss for every 1% that worst performing index declines beyond the buffer
|
| Call: | Automatically starting on Jan. 29, 2024 with a premium of a 9% annual rate if the worst performing index closes above its initial value on any quarterly review date
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| Initial levels: | 33,949.41 for Dow, 1,903.064 for Russell
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| Buffer: | 15%
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| Buffer level: | 28,856.999 for Dow, 1,617.604 for Russell, 85% of initial level
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| Pricing date: | Jan. 26, 2023
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| Settlement date: | Jan. 31, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3.5%
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| Cusip: | 17331CHG5
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