Published on 10/16/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $840,000 autocallable contingent coupon notes tied to Russell, S&P
Chicago, Oct. 16 – Citigroup Global Markets Holdings Inc. priced $840,000 of autocallable contingent coupon equity-linked securities due Oct. 17, 2024 linked to the worst performing of the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.75% paid monthly if the worst performing index closes at or above its 75% coupon barrier on the related valuation date.
The securities will be called automatically starting after one year if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date.
The payout at maturity will be par if the worst performing index finishes at or above its 75% final buffer value. Otherwise, investors will lose 1% loss for every 1% that the worst performing index declines beyond the 25% buffer.
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 indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $840,000
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| Maturity: | Oct. 17, 2024
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| Coupon: | 9.75% annual rate, paid monthly if the worst performing index closes at or above its coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | Par if worst performing index finishes at or above its final buffer level; otherwise, 1% loss for every 1% that worst performing index declines beyond buffer
|
| Call: | Automatically starting after one year if the price of the worst performing index is greater than or equal to its initial price and on any subsequent monthly valuation date
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| Initial levels: | 1,702.150 for Russell, 3,639.66 for S&P
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| Coupon barriers: | 1,276.613 for Russell, 2,729.745 for S&P, 75% of initial levels
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| Final barriers: | 1,276.613 for Russell, 2,729.745 for S&P, 75% of initial levels
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| Strike date: | Oct. 7, 2022
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| Pricing date: | Oct. 11, 2022
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| Settlement date: | Oct. 14, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.4%
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| Cusip: | 17330RYS8
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