Published on 7/9/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $605,000 autocallable notes on Nasdaq, S&P, Russell
By Kiku Steinfeld
Chicago, July 10 – Citigroup Global Markets Holdings Inc. priced $605,000 of 0% autocallable securities due Feb. 17, 2028 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on Feb. 14, 2024 with a premium of a 9.65% annual rate if the worst performing index closes above its initial value on any semiannual review date.
If the worst performing index gains, the payout at maturity will be par plus 48.25%. Investors will receive par if the worst performing index but ends above the 70% barrier level and lose 1% for every 1% that the worst performing index declines if it finishes below its barrier level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
| Amount: | $605,000
|
| Maturity: | Feb. 17, 2028
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above its initial value, par plus 48.25%; par if worst performing index declines but finishes at or above its 70% barrier level; otherwise 1% loss for every 1% that worst performing index declines
|
| Call: | Automatically starting on Feb. 14, 2024 with a premium of a 9.65% annual rate if the worst performing index closes above its initial value on any semiannual review date
|
| Initial levels: | 12,502.31 for Nasdaq, 1,941.143 for Russell, 4,137.29 for S&P
|
| Final barrier levels: | 8,751.617 for Nasdaq, 1,358.800 for Russell, 2,896.103 for S&P, 70% of initial levels
|
| Pricing date: | Feb. 13
|
| Settlement date: | Feb. 16
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17331CNK9
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
