Published on 2/16/2023 in the Prospect News Structured Products Daily.
New Issue: Citi sells $1.02 million autocallable barrier securities on Nasdaq, Russell, S&P
By William Gullotti
Buffalo, N.Y., Feb. 16 – Citigroup Global Markets Holdings Inc. priced $1.02 million of 0% autocallable barrier securities due Feb. 13, 2026 linked to the performance of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus a 12% call premium if all indexes close at or above their initial levels on Feb. 13, 2024.
If the notes are not called and all indexes finish at or above their initial levels, the payout at maturity will be par plus 2.36 times the return of the least performing index.
If the worst performer declines but finishes above 60% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable barrier securities
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| Underlying indexes: | Nasdaq-100 index, S&P 500 index, Russell 2000 index
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| Amount: | $1,023,000
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| Maturity: | Feb. 13, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all indexes finish positive, par plus 2.36 times return of worst performer; par if at least one index declines but worst performer finishes above barrier level; otherwise, investors will lose 1% for each 1% decline from the initial level of the worst performing index
|
| Call: | At par plus 12% call premium if each index closes at or above initial level on Feb. 13, 2024
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| Initial levels: | 12,304.92 for Nasdaq, 4,090.46 for S&P, 1,918.814 for Russell
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| Trigger levels: | 7,382.952 for Nasdaq, 2,454.276 for S&P, 1,151.288 for Russell; 60% of initial levels
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 15
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.95%
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| Cusip: | 17331CM95
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