Published on 4/28/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $435,000 buffer autocallable securities on basket
By Kiku Steinfeld
Chicago, April 28 – Citigroup Global Markets Holdings Inc. priced $435,000 of 0% buffer autocallable securities due Dec. 28, 2027 linked to an equally weighted basket of indexes consisting of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B3 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will be called at par plus 14.7% if the basket closes at or above initial level on Dec. 26, 2023.
If the notes are not called and the basket finishes at or above its initial value, the payout at maturity will be par plus 1.25 times the basket gain. If the basket falls by up to 20%, the payout will be par. Otherwise, investors will be exposed to any basket decline beyond 20%.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Buffered autocallable securities
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Underlying components: | S&P 500, Nasdaq-100 and Russell 2000, equally weighted
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Amount: | $435,000
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Maturity: | Dec. 28, 2027
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Coupon: | 0%
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Price: | Par
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Call: | Par plus 14.7% if basket closes at or above initial level on Dec. 26, 2023
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Payout at maturity: | Par plus 1.25 times any basket gain; par if basket declines by up to 20%; 1% loss for every 1% basket decline beyond 20%
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Initial level: | 10,956.14 for Nasdaq, 1,754.086 for Russell, 3,822.39 for S&P
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Buffer level: | 80% of initial level
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Pricing date: | Dec. 22, 2022
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Settlement date: | Dec. 28, 2022
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.125%
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Cusip: | 17330YV49
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