Published on 7/11/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $31.83 million autocallable securities linked to Dow, S&P
By Kiku Steinfeld
Chicago, July 11 – Citigroup Global Markets Holdings Inc. priced $31.83 million of 0% autocallable securities due Feb. 25, 2028 linked to the Dow Jones industrial average 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. 21, 2024 at par plus an 8.6% annual rate if the worst performing index closes at or above its 80% barrier level on any quarterly review date.
If the worst performing index closes at or above its 80% barrier level, the payout at maturity will be par plus the 43% premium for the final valuation date. Otherwise, investors lose 1% for every 1% that the worst performing index declines.
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 S&P 500 index
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| Amount: | $31,829,000
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| Maturity: | Feb. 25, 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 barrier value, par plus 43%; otherwise, 1% loss for every 1% that worst performing index declines
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| Call: | Automatically starting on Feb. 21, 2024 at par plus an 8.6% annual rate if the worst performing index closes at or above its barrier level on any quarterly review date
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| Initial levels: | 33,129.59 for Dow, 3,997.34 for S&P
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| Barrier levels: | 26,503.672 for Dow, 3,197.872 for S&P, 80% of initial levels
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 24
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0%
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| Cusip: | 17331CRM1
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