By Kiku Steinfeld
Chicago, Oct. 4 – Citigroup Global Markets Holdings Inc. priced $300,000 of 0% autocallable dual directional buffer securities due March 26, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a 7.5% call premium if the index closes at or above its initial level on March 21, 2024.
If the index gains, the payout will be par plus 100% of the index return.
The payout will be par plus the absolute value of the index return if the index declines but ends at or above the 80% buffer level.
Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%.
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 dual directional buffer securities
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Underlying index: | S&P 500 index
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Amount: | $300,000
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Maturity: | March 26, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus 100% of index return; par plus absolute value of index return if index declines but ends at or above 80% buffer level; otherwise, 1% loss for every 1% that index declines beyond 20%
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Call: | Automatically at par plus a 7.5% call premium if the index closes at or above its initial level on March 21, 2024
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Initial level: | 4,002.87
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Upside leverage: | 100%
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Buffer: | 20%
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Buffer level: | 3,202.296, 80% of initial level
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Pricing date: | March 21, 2023
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Settlement date: | March 24, 2023
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.5%
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Cusip: | 17331HAZ9
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