Published on 6/21/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.42 million autocallable contingent coupon notes on indexes
Chicago, June 21 – Citigroup Global Markets Holdings Inc. priced $3.42 million of market-linked securities – autocallable with contingent coupon and contingent downside due May 27, 2027 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9% paid quarterly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities will be called automatically at par starting after six months if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date.
If the worst performing index finishes at or above its 75% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing index declines.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the agents.
| 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 indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $3,415,000
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| Maturity: | May 27, 2027
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| Coupon: | 9% annual rate, paid quarterly if the worst performing index 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 index finishes at or above final barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
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| Call: | Automatically at par starting after six months if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date
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| Initial levels: | 14,254.09 for Nasdaq, 1,749.65 for Russell, 4,179.83 for S&P
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| Coupon barriers: | 9,977.863 for Nasdaq, 1,224.755 for Russell, 2,925.881 for S&P, 70% of initial levels
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| Final barriers: | 9,977.863 for Nasdaq, 1,224.755 for Russell, 2,925.881 for S&P, 70% of initial levels
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
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| Fees: | 2.325%
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| Cusip: | 17331HN44
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