Published on 3/20/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $433,000 buffered autocallable securities linked to S&P 500
By Angela McDaniels
Tacoma, Wash., March 20 – Citigroup Global Markets Holdings Inc. priced $433,000 of 0% buffered autocallable securities due July 6, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 20% if the index closes at or above the autocall barrier level, 95% of the initial index level, on June 30, 2025.
If the notes are not called and the final index level is greater than the initial index level, the payout at maturity will be par plus 115% of the index return. If the index declines by up to 20%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffered autocallable securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $433,000
|
| Maturity: | July 6, 2028
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial index level, par plus 115% of index return; if index declines by up to 20%, par; otherwise, 1% loss for every 1% that index declines beyond 20%
|
| Call: | Automatically at par plus 20% if index closes at or above autocall barrier level on June 30, 2025
|
| Initial level: | 4,450.38
|
| Buffer level: | 3,560.304, or 80% of initial level
|
| Autocall barrier level: | 4,227.861, or 95% of initial level
|
| Pricing date: | June 30, 2023
|
| Settlement date: | July 6, 2023
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.25%
|
| Cusip: | 17291RAK8
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
