Published on 7/23/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $52,000 autocallable securities on index, ETF
By Kiku Steinfeld
Chicago, July 24 – Citigroup Global Markets Holdings Inc. priced $52,000 of 0% autocallable securities due Feb. 22, 2027 linked to the Financial Select Sector SPDR Fund and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on Feb. 20, 2024 with a premium of a 12.5% annual rate if the worst performing index closes above its initial value on any annual review date.
If the worst performing index gains, the payout at maturity will be par plus 50%. 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: | Financial Select Sector SPDR Fund and Russell index
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Amount: | $52,000
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Maturity: | Feb. 22, 2027
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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 50%; 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 Feb. 20, 2024 with a premium of 12.5% annual rate if the worst performing index closes above its initial value on any annual review date
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Initial levels: | $36.39 for Financial, 1,946.356 for Russell
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Final barriers: | $25.473 for Financial, 1,362.449 for Russell, 70% of initial level
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Pricing date: | Feb. 17
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Settlement date: | Feb. 23
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2%
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Cusip: | 17331CBE6
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