Published on 10/12/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $500,000 autocallable securities linked to indexes
Chicago, Oct. 12 – Citigroup Global Markets Holdings Inc. priced $500,000 of 0% autocallable securities due Oct. 5, 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 Oct. 3, 2023 with a premium of a 12.25% annual rate if the worst performing index closes above 85% of its initial value and on any subsequent annual review date.
If the worst performing index finishes above the 85% barrier level, the payout at maturity will be par plus the 61.25% premium for the final valuation date. Otherwise, investors lose 1% for every 1% that the worst performing index declines.
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: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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Amount: | $500,000
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Maturity: | Oct. 5, 2027
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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 85% of its initial value, par plus 61.25% premium for final valuation date; otherwise, 1% loss for every 1% that worst performing index declines
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Call: | Automatically starting on Oct. 3, 2023 with a premium of a 12.25% annual rate if the worst performing index closes above 85% of its initial value and on any subsequent annual review date
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Initial levels: | 28,725.51 for Dow, 1,664.716 for Russell, 3,585.62 for S&P
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Barrier levels: | 24,416.684 for Dow, 1,415.009 for Russell, 3,047.777 for S&P; 85% of initial levels
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Pricing date: | Sept. 30, 2022
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Settlement date: | Oct. 5, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 0.25%
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Cusip: | 17330RGA7
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