Published on 5/4/2023 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.2 million autocallable securities linked to Dow, Russell
Chicago, May 4 – Citigroup Global Markets Holdings Inc. priced $1.2 million of 0% autocallable securities due April 28, 2028 linked to the worst performing of the Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting on April 25, 2024 with a premium at an 8% annual rate if the worst performing index closes above its initial value and on any subsequent quarterly review date.
If the worst performing index gains, the payout at maturity will be par plus 40%. If it declines by no more than its 15% buffer the payout at maturity will be par. Otherwise investors will lose 1% for every 1% that the worst performing index declines beyond its buffer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Dow Jones industrial average and Russell 2000 index
|
| Amount: | $1,198,000
|
| Maturity: | April 28, 2028
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If worst performing index gains, par plus 40%; par if worst performing index declines but finishes at or above its 85% buffer; otherwise, 1% loss for every 1% that worst performing index declines beyond the buffer
|
| Call: | Automatically starting on April 25, 2024 with a premium of an 8% annual rate if the worst performing index closes above its initial value and on any subsequent quarterly review date
|
| Initial levels: | 33,530.83 for Dow, 1,745.952 for Russell
|
| Buffer levels: | 28,501.206 for Dow, 1,484.059 for Russell, 85% of initial levels
|
| Buffer: | 15%
|
| Pricing date: | April 25
|
| Settlement date: | April 28
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 17331HS80
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
