Published on 2/11/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $750,000 9.8% autocallable contingent coupon notes on index, ETF
Chicago, Feb. 11 – Citigroup Global Markets Holdings Inc. priced $750,000 of autocallable contingent coupon equity-linked securities due May 29, 2026 linked to the worst performing of the Russell 2000 index and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.8% paid quarterly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called automatically starting May 24, 2024 if the price of the worst performing asset is greater than or equal to its initial price and on any subsequent quarterly valuation date.
If the worst performing asset finishes at or above its 70% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing asset 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 contingent coupon equity-linked securities
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| Underlying assets: | Russell 2000 index and SPDR S&P 500 ETF Trust
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| Amount: | $750,000
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| Maturity: | May 29, 2026
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| Coupon: | 9.8% annual rate, paid quarterly if the worst performing asset closes at or above its 70% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above final barrier par; 1% loss for every 1% that worst performing asset declines if it ends below final barrier
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| Call: | Automatically at par starting May 24, 2024 if the price of the worst performing asset is greater than or equal to its initial price and on any subsequent quarterly valuation date
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| Initial levels: | 1,767.000 for Russell, $411.09 for ETF
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| Coupon barriers: | 1,236.900 for Russell, $287.763 for ETF, 70% of initial levels
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| Final barriers: | 1,236.900 for Russell, $287.763 for ETF, 70% of initial levels
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| Pricing date: | May 24, 2023
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| Settlement date: | May 30, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.5%
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| Cusip: | 17331HYT7
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