Published on 10/18/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $211,000 autocallable securities linked to indexes
By Kiku Steinfeld
Chicago, Oct. 18 – Citigroup Global Markets Holdings Inc. priced $211,000 of 0% autocallable securities due March 31, 2028 linked to 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 March 28, 2024 with a premium of a 7% annual rate if the worst performing index closes above 90% of its initial value on a quarterly review date.
If the worst performing index’s final level is greater than or equal to 90% of its initial value, the payout at maturity will be par plus the premium for the final valuation date. Investors will receive par if the worst performing index’s final level is less than 90% of its initial level but greater than or equal to 65% of its initial level. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its 65% barrier level.
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: | $211,000
|
| Maturity: | March 31, 2028
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above autocall barrier level, 90% of initial value, par plus premium for final valuation date; par if worst performing index finishes below autocall barrier level but finishes at or above its 65% barrier level; otherwise 1% loss for every 1% that worst performing index declines
|
| Call: | Automatically starting on March 28, 2024 with a premium of a 7% annual rate if the worst performing index closes above 90% of its initial value on a quarterly review date
|
| Initial levels: | 32,394.25 for Dow, 1,752.632 for Russell, 3,971.27 for S&P
|
| Final barriers: | 21,056.263 for Dow, 1,139.211 for Russell, 2,581.326 for S&P, 65% of initial level
|
| Pricing date: | March 28, 2023
|
| Settlement date: | March 31, 2023
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 17331CTP2
|
|
|
|
|
© 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.
