Published on 12/9/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $990,000 autocallable contingent coupon notes on Russell, S&P
Chicago, Dec. 11 – Citigroup Global Markets Holdings Inc. priced $990,000 of autocallable contingent coupon equity-linked securities due Nov. 2, 2023 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 11.4% paid quarterly if the worst performing index closes at or above its 60% coupon barrier on the related valuation date.
The securities will be called automatically at par if the level of the worst performing index is greater than or equal to its initial level on any quarterly valuation date.
Investors will receive par if both indexes finish above their initial levels or if neither index closes below its 60% knock-in level during the life of the notes.
Otherwise, investors will be fully exposed to the losses of the worst performer.
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: | $990,000
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| Maturity: | Nov. 2, 2023
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| Coupon: | 11.4% annual rate, paid quarterly if the worst performing index closes at or above its 60% coupon barrier on the related valuation date
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| Price: | Par
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| Payout at maturity: | Par if both indexes finish above initial levels or if neither index closes below trigger level during life of notes; otherwise, full exposure to losses of worst performer
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| Call: | Automatically at par if the level of the worst performing index is greater than or equal to its initial level on any quarterly valuation date
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| Initial levels: | 1,846.921 for Russell, 3,901.06 for S&P
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| Coupon barriers: | 1,108.153 for Russell, 2,340.636 for S&P, 60% of initial levels
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| Buffer levels: | 1,108.153 for Russell, 2,340.636 for S&P, 60% of initial levels
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| Pricing date: | Oct. 28, 2022
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| Settlement date: | Nov. 2, 2022
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.725%
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| Cusip: | 17330YQA1
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