Published on 8/9/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $7.03 million autocallable securities linked to Russell, S&P
Chicago, Aug. 9 – Citigroup Global Markets Holdings Inc. priced $7.03 million of 0% autocallable securities due July 31, 2028 linked to the worst performing of 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 July 29, 2024 with a premium at an 8.5% annual rate if the worst performing index closes above its initial value and on any subsequent annual review date.
If the worst performing index gains the payout at maturity will be par plus the 42.5% premium for the final valuation date. Investors will receive par if the worst performing index but ends above the 65% 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: | Russell 2000 index and S&P 500 index
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Amount: | $7,027,000
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Maturity: | July 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 its initial value, par plus 42.5% premium for final valuation date; par if worst performing index declines but finishes at or above its 65% barrier; otherwise, 1% loss for every 1% that worst performing index declines
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Call: | Automatically starting on July 29, 2024 with a premium at an 8.5% annual rate if the worst performing index closes above its initial value and on any subsequent annual review date
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Initial levels: | 1,980.355 for Russell, 4,566.75 for S&P
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Final barriers: | 1,287.231 for Russell, 2,968.388 for S&P, 65% of initial levels
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.2%
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Cusip: | 17291RS78
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