Published on 4/19/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.2 million contingent coupon equity linked autocalls on three indexes
New York, April 19 – Citigroup Global Markets Holdings Inc. priced $2.2 million of autocallable contingent coupon equity linked securities due Oct. 3, 2024 linked to the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.45% per year, 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 closing level of the worst performing index is greater than or equal to its initial level on any quarterly valuation date starting Oct. 2, 2023.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 60% final barrier during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines 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 contingent coupon equity linked securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $2,197,000
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| Maturity: | Oct. 3, 2024
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| Coupon: | 10.45%, 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 unless any index closes below its 60% final barrier during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from its initial level
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| Call: | Automatically at par if the closing level of the worst performing index is greater than or equal to its initial level on any quarterly valuation date starting Oct. 2, 2023
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| Initial levels: | 33,274.15 for Dow Jones industrial average, 13,181.35 for Nasdaq-100 index, 1,802.484 for Russell 2000 index
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| Coupon barriers: | 19,964.490 for Dow Jones industrial average, 7,908.810 for Nasdaq-100 index, 1,081.490 for Russell 2000 index, 60% of initial levels
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| Final barriers: | 19,964.490 for Dow Jones industrial average, 7,908.810 for Nasdaq-100 index, 1,081.490 for Russell 2000 index, 60% of initial levels
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 0.875%
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| Cusip: | 17331H5C6
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