Published on 3/21/2024 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.01 million autocallable securities linked to Nasdaq, Russell, S&P
New York, March 21 – Citigroup Global Markets Holdings Inc. priced $1.01 million of 0% autocallable securities due March 16, 2029 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically with a premium of a 7.65% annual rate if the worst performing index closes at or above its initial value on any semiannual review date starting on March 14, 2025.
If the worst performing index finishes flat or gains, the payout at maturity will be par plus the premium for the final valuation date.
Investors will receive par if the worst performing index declines but ends at or above the 60% 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.
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Guarantor: | Citigroup Inc.
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Issue: | Autocallable securities
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $1,012,000
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Maturity: | March 16, 2029
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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 its initial value, par plus premium for final valuation date; par if worst performing index declines but finishes at or above its 60% barrier; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Call: | Automatically with a premium of a 7.65% annual rate if the worst performing index closes at or above its initial value on any semiannual review date starting on March 14, 2025
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Initial levels: | 18,068.47 for Nasdaq-100 index, 2,071.711 for Russell 2000 index, 5,165.31 for S&P 500 index
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Final barriers: | 10,841.082 for Nasdaq-100 index, 1,243.027 for Russell 2000 index, 3,099.186 for S&P 500 index, 60% of initial levels
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Pricing date: | March 13
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Settlement date: | March 18
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Agent: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17291LVP7
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