Published on 12/1/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $969,000 7% autocallable contingent coupon notes on Russell, S&P
Chicago, Dec. 1 – Citigroup Global Markets Holdings Inc. priced $969,000 of autocallable contingent coupon equity-linked securities due Oct. 31, 2024 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.
Investors will receive a coupon of 7% paid quarterly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date.
The securities will be called automatically at par starting April 26, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date.
The payout at maturity will be par if the worst performing index gains or declines by no more than its 20% buffer. Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond the buffer.
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 contingent coupon-equity linked securities
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $969,000
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| Maturity: | Oct. 31, 2024
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| Coupon: | 7% annual rate, paid quarterly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing index gains or declines by no more than 20% buffer par; 1% loss for every 1% that worst performing index declines beyond buffer
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| Call: | Automatically at par starting April 26, 2023 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date
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| Initial levels: | 1,804.331 for Russell, 3,830.60 for S&P
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| Coupon barriers: | 1,443.465 for Russell, 3,064.480 for S&P, 80% of initial levels
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| Buffer levels: | 1,443.465 for Russell, 3,064.48 for S&P, 80% of initial levels
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| Buffer: | 20%
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| Pricing date: | Oct. 26, 2022
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| Settlement date: | Oct. 31, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 3%
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| Cusip: | 17330RJ71
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