Published on 10/2/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $115,000 autocallable securities linked to Dow, Russell, S&P
Chicago, Oct. 2 – Citigroup Global Markets Holdings Inc. priced $115,000 of 0% autocallable securities due Sept. 30, 2027 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 securities will be called automatically starting on Sept. 27, 2023 with a premium of a 7.75% annual rate if the worst performing index closes above 90% of its initial value and on any subsequent quarterly review date.
If the worst performing index finishes at or above its 90% the payout at maturity will be par plus the 38.75% premium for the final valuation date. Investors will receive par if the worst performing index finishes below its 90% level call premium threshold and above the 65% barrier. They will 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
|
| Amount: | $115,000
|
| Maturity: | Sept. 30, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above its 90% call premium threshold, par plus 38.75% premium for final valuation date; par if worst performing index finishes below its call premium threshold and above its 65% barrier; otherwise 1% loss for every 1% that worst performing index declines
|
| Call: | Automatically starting on Sept. 27, 2023 with a premium of a 7.75% annual rate if the worst performing index closes above 90% of its initial value and on any subsequent quarterly review date
|
| Call premium threshold: | 90%
|
| Initial levels: | 29,134.99 for Dow, 1,662.509 for Russell, 3,647.29 for S&P
|
| Trigger values: | 18,937.744 for Dow, 1,080.631 for Russell, 2,370.739 for S&P, 65% of initial levels
|
| Pricing date: | Sept. 27, 2022
|
| Settlement date: | Sept. 30, 2022
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 17330RBN4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
