Published on 12/8/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.55 million 8.5% autocallable contingent coupon notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 8 – Citigroup Global Markets Holdings Inc. priced $2.55 million of autocallable contingent coupon equity-linked securities due Oct. 31, 2024 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5% paid quarterly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date.
The securities will be called automatically starting June 4, 2024 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date.
If the worst performing index finishes at or above its 70% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss 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.
|
Guarantor: | Citigroup Inc.
|
Issue: | Autocallable contingent coupon equity-linked securities
|
Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
|
Amount: | $2,547,000
|
Maturity: | Oct. 31, 2024
|
Coupon: | 8.5% annual rate, paid quarterly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date
|
Price: | Par
|
Payout at maturity: | If worst performing index finishes at or above final barrier par; 1% loss for every 1% that worst performing index declines if it ends below final barrier
|
Call: | Automatically starting June 4, 2024 if the price of the worst performing index is greater than or equal to its initial price and on any subsequent quarterly valuation date
|
Initial levels: | 15,839.67 for Nasdaq, 1,882.016 for Russell, 36,204.44 for Dow
|
Coupon barriers: | 12,671.736 for Nasdaq, 1,505.613 for Russell,28,963.552 for Dow, 80% of initial levels
|
Final barriers: | 11,087.769 for Nasdaq, 1,317.411 for Russell, 25,343.108 for Dow, 70% of initial levels
|
Pricing date: | Dec. 4
|
Settlement date: | Dec. 7
|
Agent: | Citigroup Global Markets Inc.
|
Fees: | 2.7%
|
Cusip: | 17291TA24
|
|
© 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.