Published on 10/29/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $240,000 autocallable buffer securities linked to Russell, S&P
By Kiku Steinfeld
Chicago, Oct. 30 – Citigroup Global Markets Holdings Inc. priced $240,000 of 0% autocallable buffer securities due April 5, 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 125% of its return. Investors will receive par if the worst performing index declines but ends at or above its 15% buffer and they will lose 1% for every 1% that the worst performing index declines beyond the buffer.
The notes will be called automatically at a premium of 16% if the worst performing index closes above its initial value on April 3, 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 buffer securities
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $240,000
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| Maturity: | April 5, 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 125% of its return; par if worst performing index declines but finishes at or above its 15% buffer; 1% loss for every 1% that worst performing index declines beyond buffer
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| Upside leverage: | 125%
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| Initial levels: | 1,802.484 for Russell, 4,109.31 for S&P
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| Buffer: | 15%
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| Buffer levels: | 1,532.111 for Russell, 3,492.914 for S&P, 85% of initial level
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| Call: | Automatically at a premium of 16% if the worst performing index closes above its initial value on April 3, 2024
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| Pricing date: | March 31, 2023
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| Settlement date: | April 5, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.125%
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| Cusip: | 17331CV20
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