Published on 8/9/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $763,000 autocallable securities linked to Russell, S&P
Chicago, Aug. 9 – Citigroup Global Markets Holdings Inc. priced $763,000 of 0% autocallable securities due July 30, 2026 linked to the worst performing of the 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 on July 29, 2024 with a premium 10% if the worst performing index closes above its initial value.
If the worst performing index gains the payout at maturity will be par plus a 40% premium for the final valuation date. Investors will receive par if the worst performing index but ends above the 80% barrier and lose 1% for every 1% that the worst performing index declines if it finishes below its 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 securities
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $763,000
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Maturity: | July 30, 2026
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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 40% premium for final valuation date; par if worst performing index declines but finishes at or above its 80% barrier; otherwise 1% loss for every 1% that worst performing index declines
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Call: | Automatically on July 29, 2024 with a premium 10% if the worst performing index closes above its initial value
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Initial levels: | 1,980.355 for Russell, 4,566.75 for S&P
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Final barriers: | 1,584.284 for Russell, 3,653.400 for S&P, 80% of initial levels
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.25%
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Cusip: | 17291RKF8
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