Published on 2/8/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $575,000 autocallable securities linked to three indexes
Chicago, Feb. 8 – Citigroup Global Markets Holdings Inc. priced $575,000 of 0% autocallable securities due Nov. 24, 2026 linked to the worst performing of 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 May 22, 2024 with a premium of a 15.25% annual rate if the worst performing index closes above its initial value and on any subsequent semiannual review date.
If the worst performing index gains the payout at maturity will be par plus the 53.375% premium for the final valuation date. Investors will receive par if the worst performing index but ends above the 70% 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $575,000
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| Maturity: | Nov. 24, 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 53.375% premium for final valuation date; par if worst performing index declines but finishes at or above its 70% barrier; otherwise 1% loss for every 1% that worst performing index declines
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| Call: | Automatically starting on May 22, 2024 with a premium of a 15.25% annual rate if the worst performing index closes above its initial value and on any subsequent semiannual review date
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| Initial levels: | 13,803.49 for Nasdaq, 1,773.717 for Russell, 4,191.98 for S&P
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| Final barriers: | 9,662.443 for Nasdaq, 1,241.602 for Russell, 2,934.386 for S&P, 70% of initial levels
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| Pricing date: | May 19, 2023
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| Settlement date: | May 24, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.95%
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| Cusip: | 17331HXZ4
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