Published on 4/6/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.84 million autocallable securities linked to Dow, Russell
New York, April 6 – Citigroup Global Markets Holdings Inc. priced $3.84 million of 0% autocallable securities due March 31, 2028 linked to the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus a 6.25% annualized call premium if the worst performing index closes at or above its initial value on any quarterly review date starting on March 28, 2024.
If the worst performing index finishes at or above 90% of initial level, the payout at maturity will be par plus the premium for the final valuation date.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond 10%.
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: | Dow Jones industrial average and Russell 2000 index
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Amount: | $3.84 million
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Maturity: | March 31, 2028
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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 90% of initial level, par plus premium for final valuation date; otherwise, 1% loss for every 1% that worst performing index declines beyond 10%
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Call: | Automatically at par plus a 6.25% annualized call premium if the worst performing index closes at or above its initial value on any quarterly review date starting on March 28, 2024
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Initial levels: | 32,394.25 for Dow Jones industrial average, 1,752.632 for Russell 2000 index
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Buffer: | 10%
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Buffer level: | 29,154.825 for Dow Jones industrial average, 1,577.369 for Russell 2000 index, 90% of initial level
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Pricing date: | March 28
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Settlement date: | March 31
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.5%
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Cusip: | 17331CTQ0
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