Published on 9/11/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $4.77 million autocallable barrier securities on indexes
Chicago, Sept. 11 – Citigroup Global Markets Holdings Inc. priced $4.77 million of 0% autocallable barrier securities due Aug. 31, 2028 linked to the worst performing of the Dow Jones industrial average, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at a premium of 9.15% if the worst performing index closes above its initial value on Aug. 28, 2024 and on any subsequent semiannual valuation date.
If the worst performing index gains the payout will be par plus the worst performing index return. Investors will receive par if the worst performing index declines but ends at or above its 65% final barrier and they will lose 1% for every 1% that the worst performing index declines if it finishes below the final 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 barrier securities
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $4,773,000
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| Maturity: | Aug. 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 the worst performing index return; if worst performing index declines but finishes at or above its 65% final barrier, par; 1% loss for every 1% that worst performing index declines if it finishes below its final barrier
|
| Call: | Automatically at a premium of 9.15% if the worst performing index closes above its initial value on Aug. 28, 2024 and on any subsequent semiannual valuation date
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| Initial levels: | 34,559.98 for Dow, 1,869.007 for Russell, 4,433.31 for S&P
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| Final barriers: | 22,463.987 for Dow, 1,214.855 for Russell, 2,881.652 for S&P, 65% of initial levels
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| Upside leverage: | 100%
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4%
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| Cusip: | 17291Q6A7
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