Published on 7/12/2023 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.15 million autocallable contingent coupon equity linked securities on S&P
New York, July 12 – Citigroup Global Markets Holdings Inc. priced $1.15 million of autocallable contingent coupon equity linked securities due Aug. 1, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.25%, paid monthly, if the index closes at or above its 80% coupon barrier on the related valuation date.
The securities will be called automatically at par if the closing level of the index is greater than or equal to its initial level on any monthly valuation date starting Dec. 27, 2023.
If the index finishes at or above its 80% final barrier, the payout at maturity will be par. Otherwise, investors will lose 1% loss for every 1% that the index declines.
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 contingent coupon equity linked securities
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Underlying index: | S&P 500 index
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Amount: | $1,154,000
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Maturity: | Aug. 1, 2024
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Coupon: | 6.25%, paid monthly if the index closes at or above its 80% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If index finishes at or above final barrier, par; otherwise, 1% loss for every 1% that index declines from initial level
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Call: | Automatically at par if the closing level of the index is greater than or equal to its initial level on any monthly valuation date starting Dec. 27, 2023
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Initial level: | 4,378.41
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Coupon barrier: | 3,502.728, 80% of initial level
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Final barrier: | 3,502.728, 80% of initial level
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Pricing date: | June 27
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Settlement date: | June 30
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Agent: | Citigroup Global Markets Inc.
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Fees: | 2.4%
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Cusip: | 17331HYK6
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