Published on 4/18/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $608,000 autocallable barrier securities linked to S&P 500
By Kiku Steinfeld
Chicago, April 18 – Citigroup Global Markets Holdings Inc. priced $608,000 of 0% autocallable barrier securities due July 22, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains the payout will be par plus 143.9% of the index return. Investors will receive par if the index declines but ends at or above its 70% final barrier and they will lose 1% for every 1% that the index declines if it finishes below the final barrier.
The notes will be called automatically if the level of the index is greater than or equal to its initial level on July 17, 2024 at a premium of 10%.
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: | S&P 500 index
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Amount: | $608,000
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Maturity: | July 22, 2026
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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 143.9% of the index return; if index declines but finishes at or above its 70% final barrier, par; 1% loss for every 1% that index declines if it finishes below its final barrier
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Initial level: | 4,522.79
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Final barrier: | 3,165.953, 70% of initial level
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Call: | Automatically if the level of the index is greater than or equal to its initial level on July 17, 2024 at a premium of 10%
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Upside leverage: | 143.9%
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Pricing date: | July 17, 2023
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Settlement date: | July 20, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.95%
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Cusip: | 17291RRN4
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