By William Gullotti
Buffalo, N.Y., Aug. 8 – Citigroup Global Markets Holdings Inc. priced $1.02 million of 0% autocallable barrier securities due Aug. 1, 2025 linked to the performance of the Nasdaq-100 Total Return 2% Decrement index, the S&P 500 3% Decrement index TR and the Russell 2000 2% Decrement index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus a 20% call premium if each index closes at or above initial level on Aug. 1, 2023.
If the notes are not called and all indexes finish above their initial levels, the payout at maturity will be par plus 1.5 times the return of the least performing index.
If the worst performer declines but finishes above 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
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 barrier securities
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Underlying indexes: | Nasdaq-100 Total Return 2% Decrement index, S&P 500 3% Decrement index TR, Russell 2000 2% Decrement index
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Amount: | $1,019,000
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Maturity: | Aug. 1, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If all indexes finish positive, par plus 1.5 times the return of worst performer; par if at least one index declines but worst performer finishes above barrier level; otherwise, investors will lose 1% for each 1% decline from the initial level of the worst performing index
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Call: | At par plus a 20% call premium if each index closes at or above initial level on Aug. 1, 2023
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Initial levels: | 919.7 for Nasdaq, 865.43 for S&P, 1,403.88 for Russell
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Trigger levels: | 643.79 for Nasdaq, 605.801 for S&P, 982.716 for Russell; 70% of initial levels
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Pricing date: | July 29
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Settlement date: | Aug. 3
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Agent: | Citigroup Global Markets Inc.
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Fees: | 3.5%
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Cusip: | 17330PSB6
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