Published on 7/29/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $330,000 autocallable securities linked to Russell, S&P
By Kiku Steinfeld
Chicago, July 31 – Citigroup Global Markets Holdings Inc. priced $330,000 of 0% autocallable securities due Feb. 26, 2026 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on Feb. 21, 2024 with a premium of a 8.05% annual rate if the worst performing index closes above its initial value on a semiannual review date.
If the worst performing index gains or declines by no more than its 15% buffer, 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 its buffer.
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: | Russell 2000 index and S&P 500 index
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Amount: | $330,000
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Maturity: | Feb. 26, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index gains, par plus premium for final valuation date; par if worst performing index declines but finishes at or above its 85% buffer; otherwise 1% loss for every 1% that worst performing index declines beyond the buffer
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Call: | Automatically starting on Feb. 21, 2024 with a premium of a 8.05% annual rate if the worst performing index closes above its initial value on a semiannual review date
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Initial levels: | 1,888.215 for Russell, 3,997.34 for S&P
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Buffer: | 15%
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Buffer level: | 1,604.983 for Russell, 3,397.739 for S&P, 85% of initial level
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Pricing date: | Feb. 21, 2023
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Settlement date: | Feb. 24, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.15%
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Cusip: | 17331CQF7
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