Published on 8/17/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $600,000 autocallable barrier securities linked to Russell
Chicago, Aug. 17 – Citigroup Global Markets Holdings Inc. priced $600,000 of 0% autocallable barrier securities due July 29, 2027 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically if the level of the index is greater than or equal to its initial level starting on July 26, 2023 and on any subsequent potential annual call date at an annualized premium of 11.7%.
At maturity, if the index gains the payout will be par plus the greater of the index return and par plus 25%. Investors will receive par if the index declines but ends at or above its 75% final barrier and they will lose 1% for every 1% that the 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 index: | Russell 2000 index
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Amount: | $600,000
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Maturity: | July 29, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above its initial value, par plus greater of index return and 25% final call premium; if index declines but finishes at or above its 75% final barrier, par; 1% loss for every 1% that index declines if it finishes below its final barrier
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Initial level: | 1,805.246
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Final barrier: | 1,353.935, 75% of initial level
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Call: | Automatically on any annual call observation date if index closes above initial level at par plus 11.7% annualized call premium
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Pricing date: | July 26, 2022
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Settlement date: | July 29, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.35%
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Cusip: | 17330PMZ9
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