Published on 9/26/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $754,000 autocallable securities linked to Russell, S&P
By Kiku Steinfeld
Chicago, Sept. 26 – Citigroup Global Markets Holdings Inc. priced $754,000 of 0% autocallable securities due March 17, 2028 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on March 14, 2024 with a premium of a 9.1% annual rate if the worst performing index closes above its initial value on any annual review date.
If the worst performing index gains the payout at maturity will be par plus 45.5%. 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: | $754,000
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| Maturity: | March 17, 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 45.5%; 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 March 14, 2024 with a premium of a 9.1% annual rate if the worst performing index closes above its initial value on an annual review date
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| Initial levels: | 1,776.893 for Russell, 3,920.56 for S&P
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| Final barriers: | 1,154.980 for Russell, 2,548.364 for S&P, 65% of initial level
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| Pricing date: | March 14, 2023
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| Settlement date: | March 17, 2023
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 4.1%
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| Cusip: | 17331CYH4
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