Published on 10/2/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $115,000 autocallable securities linked to Dow, Russell, S&P
Chicago, Oct. 2 – Citigroup Global Markets Holdings Inc. priced $115,000 of 0% autocallable securities due Sept. 30, 2027 linked to the worst performing of the Dow Jones industrial average, 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 Sept. 27, 2023 with a premium of a 7.75% annual rate if the worst performing index closes above 90% of its initial value and on any subsequent quarterly review date.
If the worst performing index finishes at or above its 90% the payout at maturity will be par plus the 38.75% premium for the final valuation date. Investors will receive par if the worst performing index finishes below its 90% level call premium threshold and above the 65% barrier. They will 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: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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Amount: | $115,000
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Maturity: | Sept. 30, 2027
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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 90% call premium threshold, par plus 38.75% premium for final valuation date; par if worst performing index finishes below its call premium threshold and above its 65% barrier; otherwise 1% loss for every 1% that worst performing index declines
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Call: | Automatically starting on Sept. 27, 2023 with a premium of a 7.75% annual rate if the worst performing index closes above 90% of its initial value and on any subsequent quarterly review date
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Call premium threshold: | 90%
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Initial levels: | 29,134.99 for Dow, 1,662.509 for Russell, 3,647.29 for S&P
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Trigger values: | 18,937.744 for Dow, 1,080.631 for Russell, 2,370.739 for S&P, 65% of initial levels
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Pricing date: | Sept. 27, 2022
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Settlement date: | Sept. 30, 2022
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.5%
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Cusip: | 17330RBN4
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