Published on 12/10/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $643,000 autocallable securities linked to Russell, S&P
Chicago, Dec. 11 – Citigroup Global Markets Holdings Inc. priced $643,000 of 0% autocallable securities due Nov. 6, 2025 linked to the worst performing of the 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 Nov. 1, 2023 with a premium of a 15.5% annual rate if the worst performing index closes above its redemption threshold and on any subsequent annual review date. The initial redemption threshold is 100% of the initial level, decreasing 5% each year.
If the worst performing index finishes above 90% of its initial level the payout at maturity will be par plus the 46.5% premium for the final valuation date. Investors will receive par if the worst performing index declines more than 10% 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.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Russell 2000 index and S&P 500 index
|
| Amount: | $643,000
|
| Maturity: | Nov. 6, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above 90% of its initial value, par plus 46.5% premium for final valuation date; par if worst performing index declines more than 10% but finishes at or above its 65% barrier; otherwise, 1% loss for every 1% that worst performing index declines
|
| Call: | Automatically starting on Nov. 1, 2023 with a premium of a 15.5% annual rate if the worst performing index closes above its redemption value and on any subsequent annual review date; initial redemption value is 100% of its initial level; 95% for second date
|
| Initial levels: | 1,851.388 for Russell, 3,856.10 for S&P
|
| Final barriers: | 1,203.402 for Russell, 2,506.465 for S&P, 65% of initial levels
|
| Pricing date: | Nov. 1, 2022
|
| Settlement date: | Nov. 4, 2022
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0%
|
| Cusip: | 17330Y3Q1
|
|
|
© 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.
